GCC bank assets exceed $4 trillion as deposits reach $2.45 trillion

Commercial bank assets across the Gulf Cooperation Council exceeded $4 trillion by the end of June 2026, with total deposits reaching approximately $2.45 trillion, according to data presented at the 87th Meeting of the Committee of Governors of Central Banks in the GCC States, held in Manama, Bahrain. Total assets rose 3.9 percent during the first half of 2026, while deposits expanded 6 percent over the same period. Net foreign assets held by Gulf central banks stood at approximately $829 billion at end-June 2026.

Deposit growth and asset expansion through mid-2026#

Deposits at commercial banks operating across the six GCC economies totalled approximately $2.45 trillion by end-June 2026, up 6 percent from the $2.3 trillion recorded at end-2025. Total assets at commercial banks rose 3.9 percent during the first six months of 2026, bringing the aggregate to more than $4 trillion. GCC Secretariat data showed assets had reached $3.9 trillion at end-2025, an increase of 11.9 percent from 2024. The June 2026 readings indicate that both deposits and total banking assets continued to expand during the first half of the year.

External buffers and import cover capacity#

Gulf central banks held net foreign assets of approximately $829 billion at end-June 2026, equivalent to approximately 11 months of import cover for the GCC. Those assets totalled approximately $842 billion at end-2025, a rise of 10.5 percent from the prior year, GCC Secretariat figures showed. The June reading was lower than the end-2025 level, but the region continued to maintain a substantial external liquidity buffer. GCC Secretary General Jasem Mohamed Albudaiwi stated that regulatory and supervisory frameworks, liquidity levels and capital adequacy ratios continued to support banking-sector stability across the six Gulf economies.

Inflation and capital deployment outlook#

The GCC-wide inflation rate stood at approximately 2.1 percent in May 2026, according to Albudaiwi. BlackRock Investment Institute projects the GCC will deploy between $1.6 trillion and $2.5 trillion in capital expenditure through 2030, with more than 80 percent directed toward diversifying away from upstream oil and gas into energy infrastructure, industry, digital assets, and social investment. Energy, resources, and industry is the largest single category at $735 billion, covering gas, downstream industries, and mining, including Saudi Arabia's Jafurah gas programme and the UAE's Ruwais industrial base. Strategic redundancy follows at $660 billion, spanning export routes, ports, and power and water projects.

Sector allocation and domestic investment shift#

Digital infrastructure accounts for $323 billion of the projected capital expenditure, covering power, grids, and cooling systems. Selective urban growth is allocated $212 billion, increasingly tied to fixed-deadline events such as Expo 2030 Riyadh. Human and environmental resilience covers $140 billion, spanning healthcare, food, water, and waste systems. BlackRock Investment Institute's Ben Powell said a growing share of GCC capital will go toward building domestic economic resilience, with the conflict acting as an accelerant to diversification plans already underway. Existing projects are being reassessed and resequenced as countries weigh how infrastructure performed during disruption to regional shipping routes.