Forbes Middle East Reveals The Top 50 Banks In The Middle East 2021

Press release
Published June 16th, 2021 - 08:19 GMT
Forbes Middle East Reveals The Top 50 Banks In The Middle East 2021
Top 50 Banks In The Middle East 2021
Highlights
Forbes Middle East has unveiled its “Top 50 Banks In The Middle East” list featuring the region’s banking powerhouses that help drive the economy.

Forbes Middle East has unveiled its “Top 50 Banks In The Middle East” list featuring the region’s banking powerhouses that help drive the economy. To construct the list, Forbes Middle East gathered data from listed stock exchanges in the Arab world and ranked companies based on sales, profits, assets, and market value. Qatar’s QNB Group leads the pack at the top spot.  

As of June 6, 2021, the banks that feature on Forbes Middle East’s list of the “Top 50 Banks In The Middle East” had a total value of $513.6 billion and assets worth $2.5 trillion. That is more than three times the GDP estimate of Saudi Arabia, the region’s largest economy. With 10 entries each, Saudi Arabia and the U.A.E. have the most entries, followed by Qatar with eight, and Kuwait with six.

The region’s banking industry is in the midst of a consolidation phase, where some of the largest banks are merging to create larger banking groups. By doing this, banks reduce competition and increase their expertise. In 2019, ADCB merged with Union National Bank and Al Hilal Bank to form the ADCB Group, which is the UAE’s third largest bank. In 2020, Dubai Islamic Bank, which was already the largest Islamic bank in the Emirates, merged with Noor Bank. And in March 2021, Saudi’s National Commercial Bank announced a merger with Samba, which will create the one of the region’s most valuable bank

Top 50 Banks In The Middle East 2021: Country Breakdown

Saudi Arabia

10

Kuwait

6

Morocco

3

U.A.E. 

10

Bahrain

5

Egypt

2

Qatar 

8

Oman

4

Jordan 

2

Top 10 Banks In The Middle East 2021 

1 | QNB Group   

Country: Qatar 

Sales: $13.5 billion 

Profits: $3.3 billion

2 | First Abu Dhabi Bank (FAB)

Country: U.A.E. 

Sales: $7.6 billion

Profits: $2.9 billion 

3 | Saudi National Bank (SNB)

Country: Saudi Arabia

Sales: $6.6 billion 

Profits: $3.1 billion 

4 | Emirates NBD

Country: U.A.E. 

Sales: $9.7 billion

Profits: $1.9 billion

4 | Al Rajhi Bank 

Country: Saudi Arabia

Sales: $5.6 billion 

Profits: $2.8 billion

6 | ADCB Group  

Country: U.A.E.  

Sales: $4.6 billion 

Profits: $1 billion

6 | Riyad Bank

Country: Saudi Arabia 

Sales: $3.6 billion 

Profits: $1.3 billion

8 | National Bank of Kuwait (NBK)

Country: Kuwait

Sales: $3.9 billion 

Profits: $859 million

9 | Kuwait Finance House (KFH) 

Country: Kuwait

Sales: $3.6 billion 

Profits: $612 million

10 | Dubai Islamic Bank (DIB)

Country: U.A.E. 

Sales: $3.6 billion 

Profits: $860 million

Click here for the complete ranking of Top 50 Banks In The Middle East 2021. 

Background Information

Forbes Middle East

Forbes Middle East has a license for copy rights and distribution rights in the MENA region from Forbes Media, U.S.A.  Under the guidelines standardized amongst all Forbes titles, the magazine features analysis and expert reporting related to the finance and business world, as well as investment opportunities in the Arab region.  Forbes Middle East puts together its lists based on the criterion of neutrality, authenticity, commitment to the methodology of scientific research, and the quality of standards set globally by Forbes through its extensive experience in this field.

Forbes Middle East also serves as a guide for businessmen and decision makers by providing them with information and statistics necessary for making the right decisions. Thus, the magazine becomes the guiding compass for investments in the region. Through its wide network of press correspondents the magazine also works toward covering all the economic fields and issues concerning the Arab region. 

Check out our PR service


Signal PressWire is the world’s largest independent Middle East PR distribution service.

Subscribe

Sign up to our newsletter for exclusive updates and enhanced content