Dubai [UAE], According to the GCC Banking Sector Report, the GCC banking sector's bottom line performance remained stable with a healthy quarter-on-quarter growth of 11.8 per cent and 10.5 per cent year-on-year growth to reach US$14.4 billion during Q1-2024. 2024, The report released today by Cameco Invest, which analyzes the financial position reported by 57 listed banks in the GC for the quarter ending Q1-2024, revealed that UAE-listed banks reported Q1- Has recorded the largest QoQ growth of 5.6 percent during 2024. Total customer deposits reached US$803.2 billion, the largest in the GCC. “The UAE once again ranks first in the GCC in terms of net interest margin (NIM which reached 3.49% in Q1-2024 compared to 3.52% during Q4-2023), the highest compared to Gulf counterparts. Margins reflect adequate liquidity that allows UAE banks to take advantage of the tighter interest rate cycle with more modest increases. Saudi Arabian banks ranked second with a NIM of 3.18 per cent, followed by Qatari and Kuwait banks at 3.06 per cent. and are at 2.87 per cent, respectively,” the report said, adding that UAE-listed banks have the highest return on equity (ROE) at the end of Q1-2024. are once again on top in the region, followed by Saudi Arabia and Qatari banks with the largest year-on-year growth in ROE for UAE-listed banks at 12.8 per cent and 280 bps, respectively. This was mainly due to increased profits as well as relatively lower growth in total shareholders' equity.