Total net profits for listed banks in the GCC countries reached a new record high during Q1 2023, mainly led by a steep quarterly increase in non-interest income that more than offset a decline in interest income in Qatar and Kuwait.
After experiencing one of the lowest inflation rates among GCC countries in 2022, Oman is expected to record an average inflation rate of 1.9 per cent for 2023, the lowest expected inflation in the GCC, according to the International Monetary Fund (IMF).