Four Kuwaiti banks are among the top 100 banks in emerging capital markets, according to statistics issued by the Fitch Ratings Agency.
The National Bank of Kuwait tops with total assets of $109.9 billion and total loans of $67.3 billion as at the end of the fiscal year 2021, followed by the Kuwait Finance House (KFH) with total assets of $72 billion and loans of $39.7 billion, then comes the Burgan Bank with total assets of $72 billion and $23.4 billion in total loans, and the fourth is the Al Ahli Bank of Kuwait with total assets of $18.6 billion and total loans of $12 billion.
In the GCC countries, the Kuwaiti and Saudi banks rank third with 4 banks each, while the UAE came with 7 banks lead the pack, with Qatar in second place with a total of 5 banks while the Oman and Bahrain have one bank each on the list.
Fitch stated that it is launching a series of reports that follow a sample of 100 large banks from emerging markets, as defined by the International Monetary Fund, explaining that this sample primarily includes banks that issue bonds in the capital markets, and were selected based on the total size to its balance sheets regardless of whether they are classified by Fitch, provided that the report is updated on a semi-annual basis.
The largest banks by asset volume in the sample are located in China, followed by Brazil, India, Qatar and the UAE.
China has the largest number of banks in the list (12 banks), followed by Brazil (8), the UAE and India (7 banks each), while 35 of the 100 banks are located in Asia, 24 in Latin America, 22 in the Middle East, 10 in Africa and 9 in Europe.
The agency indicated that most of the banks in the sample applied the criteria of Basel III, noting that 77 percent of banks reported liquidity coverage rates, 48 percent stable funding rates, and 94 percent reported rates of ordinary shares from the first tranche, and where the ratio is not available “Fitch” used the core capital ratio as a key measure of capitalization.
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