A recent report by research firm Prime Holdings has said that the banking sector in the UAE still leads the rest of the GCC in terms of assets, which stood at $414bn (Dhs1.52 trillion) in 2009, Emirates Business has reported. Assets of the UAE banking sector rose by 4.3% year-on-year in 2009 against a 35% compound annual growth rate (CAGR) between 2004 and 2008. The report puts UAE banking assets ahead of Saudi Arabia's, which reported assets of $365bn.
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