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UAB: Eight Kuwaiti banks among largest banks in Arab world

An analytical study by Union of Arab Banks (UAB) showed that eight Kuwaiti banks have been ranked among the top 100 Arab banks in 2022. With combined assets of USD 343 billion, the eight banks’ capital came to about USD 35.8 billion, said the Beirut-based UAB.

The National Bank of Kuwait (NBK), Kuwait Finance House (KFH), Burgan Bank, Gulf Bank (GBK), Ahli United Bank of Kuwait (AUB), Kuwait Commercial Bank, Al Ahli Bank of Kuwait, and Kuwait International Bank are the eight banks that UAB mentioned in the list.

As stated in the report, the highest capital in the area was NBK, followed by KFH and Burgan Bank in third position. When it came to total assets, KFH was the biggest bank.

According to data released by “The Banker” magazine in November 2023, the UAE has the highest record of all Arab countries with 18 banks among the top 100. Egypt came in second with 11 banks, Saudi Arabia and Bahrain with 10 banks each, Qatar and Jordan with nine banks, Kuwait and Oman and Morocco with eight banks each, Tunisia with six banks, Lebanon with two banks, and Palestine with one bank.

A number of 22 Islamic banks were also identified by the survey, and they were spread as follows: five banks from Qatar, four from the Kingdom of Saudi Arabia, three from Kuwait, the United Arab Emirates, and Bahrain, two from Egypt, and one from each of Jordan and Oman. The rankings were based on the major capital of 2022.

Source: KUNA



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