According to an analytical study conducted by the Union of Arab Banks (UAB) based on data from The Banker magazine, 85 Arab banks are included in the 2015 list of the world’s top 1,000 banks. Eight banks from Kuwait, led by the National Bank of Kuwait, are on the list in the first category of capital.
The eight Kuwait banks on the list are in order of their ranking, National Bank of Kuwait, Kuwait Finance House, Burgan Bank, Gulf Bank, Commercial Bank of Kuwait, Al Ahli Bank of Kuwait, Kuwait International Bank and Industrial Bank of Kuwait.
Disclosing this at a press conference, the UAB Secretary-General Wissam Fattouh noted that National Bank of Kuwait had made remarkable progress on the list moving from the rank of 189 in 2014 to 168 in 2015. He added that the criteria of the first class banks manifest their strength and ability to withstand shocks, in line with the Basel Committee on Banking Supervision.
The figures comprised by the UBA study show that the total assets of the eight Kuwait banks stood at KD63.5 billion in 2015, while their capital rose 6 percent from a year earlier to reach KD6.8 billion.
The study further revealed that the Arab banking sector achieved steady growth over the past years, with assets increasing to KD1 trillion and deposits amounting to KD640 billion.