Forbes Middle East Reveals The Middle East’s Top 30 Banks 2022

Press release

Published August 7th, 2022 - 06:28 GMT

Forbes Middle East Reveals The Middle East’s Top 30 Banks 2022

Meet The Moneymakers In Banking And Financial Services

Highlights

Forbes Middle East has unveiled its ranking of the Middle East’s Top 30 Banks 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.

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.