For the second consecutive year, Qatar’s QNB Group tops the list with $300.3 billion in total assets…reports Asian Lite News
Forbes Middle East has unveiled its ranking of the Middle East’s Top 30 Banks 2022, recognizing the region’s most resilient banking heavyweights that have emerged strong from the pandemic crisis. To construct the list, Forbes Middle East compiled data from listed stock exchanges in the Arab world and ranked companies based on sales, profits, assets, and market value.
As of June 28, 2022, the 30 banks had a total market value of $586.6 billion and assets worth $2.5 trillion. Gulf banks dominate this year’s ranking, with 25 out of the 30 based in the GCC. Saudi Arabia and the UAE are the most represented countries on the list, with 10 and seven banks, respectively. Qatar follows with four banks, while Morocco has three.
For the second consecutive year, Qatar’s QNB Group tops the list with $300.3 billion in total assets. The UAE’s FAB, Saudi’s Al Rajhi Bank, and Saudi National Bank follow in a three-way tie for second place. UAE-based Emirates NBD rounds up the top five. Combined, these five amassed $16.8 billion in 2021 profits, constituting 49% of the aggregate profits of the 30 banks on the list.
Top 5 Banks In The Middle East 2022
1 | QNB Group
Country: Qatar
Group CEO: Abdulla Mubarak Al-Khalifa
2 | First Abu Dhabi Bank (FAB)
Country: UAE
Group CEO: Hana Al Rostamani
3 | Saudi National Bank (SNB)
Country: Saudi Arabia
Group CEO and MD: Saeed Al-Ghamdi
4 | Al Rajhi Bank
Country: Saudi Arabia
CEO: Waleed Abdullah Ali Al-Mogbel
5 | Emirates NBD
Country: UAE
Group CEO: Shayne Nelson
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