- The 30 banks have a total market value of $586.6 billion and total assets worth $2.5 trillion.
- Saudi Arabia dominates the top banks ranking with 10 entries, followed by the UAE with seven, Qatar with four, Morocco with three, Kuwait with two, and Egypt, Bahrain, Jordan, and Oman with one each.
- Qatar’s QNB grabs the top spot for the second consecutive year.
Beirut, August 5, 2022: 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
2 | Saudi National Bank (SNB)
Country: Saudi Arabia
Group CEO and MD: Saeed Al-Ghamdi
2 | Al Rajhi Bank
Country: Saudi Arabia
CEO: Waleed Abdullah Ali Al-Mogbel
5 | Emirates NBD
Country: UAE
Group CEO: Shayne Nelson
| Top 30 Banks In The Middle East 2022: Country Breakdown | |||||
| Saudi Arabia | 10 | Morocco | 3 | Egypt | 1 |
| UAE | 7 | Kuwait | 2 | Jordan | 1 |
| Qatar | 4 | Bahrain | 1 | Oman | 1 |
Click here for the complete list of the Middle East’s Top 30 Banks 2022.
About Forbes Middle East
Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online.
Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.