The balance of power in the Top 1000 World Banks Middle East regional table has shifted. After a period of sustained Saudi Arabian and then Qatari dominance, an Emirati lender, First Abu Dhabi Bank (FAB), has scooped the number one spot, following the merger of the National Bank of Abu Dhabi and First Gulf Bank in April 2017. With Tier 1 capital of $20.5bn, FAB just beat Qatar National Bank (QNB), which came in second with Tier 1 capital of $20.1bn.
That QNB was beaten to the number one spot is all the more impressive given that the Qatari lender registered a 16% increase to its Tier 1 capital over the review period. In the coming years, the two lenders are likely to be the sole contenders in the fight for the top regional spot: their nearest competition is Saudi Arabia’s National Commercial Bank, with Tier 1 capital of $17bn.
Beyond the arrival of FAB, there have been a handful of smaller movements in the top 10 regional banks. This includes the arrival of the Saudi British Bank (SABB) in 10th place with $8.9bn in Tier 1 capital. But the May 2018 announcement of a merger between SABB and fellow Saudi lender Alawwal Bank could position the new entity much higher in the regional table following the completion of the deal.
Elsewhere, Al Rajhi Bank and Emirates NBD have both moved up one position, occupying fourth and fifth places, respectively. Saudi Arabia’s Riyad Bank has dropped one spot to eighth, with Israel’s Bank Hapoalim climbing one place to reach number seven.
The Middle East’s highest movers’ table is a diverse affair, with three Israeli lenders making the cut and two banks each from Bahrain, Oman and Qatar. Iran’s Bank Keshavarzi (Agri Bank) scoops the top spot with Tier 1 capital growth of 156.5%.
The top five banks by return on capital (ROC) table is a largely Levantine affair. Lebanon’s Blom Bank comes out on top with an ROC of 22.7%, while its compatriot Bank Audi is in second with an ROC of 19.7%. Two Jordanian banks and Qatar National Bank round out the table.
Top 25 Middle East ($M)
Regional Rank | World Rank | Bank | Country | Tier 1 capital |
1 | 81 | First Abu Dhabi Bank | United Arab Emirates | 20,508 |
2 | 82 | Qatar National Bank | Qatar | 20,108 |
3 | 94 | National Commercial Bank | Saudi Arabia | 17,020 |
4 | 104 | Al Rajhi Bank | Saudi Arabia | 14,867 |
5 | 109 | Emirates NBD | United Arab Emirates | 14,029 |
6 | 124 | Samba Financial Group | Saudi Arabia | 11,899 |
7 | 133 | Bank Hapoalim | Israel | 10,894 |
8 | 142 | Riyad Bank | Saudi Arabia | 10,299 |
9 | 146 | Bank Leumi le-Israel | Israel | 9,986 |
10 | 164 | Saudi British Bank (SABB) | Saudi Arabia | 8,892 |
11 | 165 | Abu Dhabi Commercial Bank | United Arab Emirates | 8,768 |
12 | 167 | National Bank of Kuwait | Kuwait | 8,717 |
13 | 171 | Banque Saudi Fransi | Saudi Arabia | 8,506 |
14 | 193 | Dubai Islamic Bank | United Arab Emirates | 7,072 |
15 | 205 | Kuwait Finance House | Kuwait | 6,441 |
16 | 208 | Arab National Bank | Saudi Arabia | 6,325 |
17 | 225 | AlInma Bank | Saudi Arabia | 5,493 |
18 | 234 | Mashreqbank | United Arab Emirates | 5,391 |
19 | 239 | Qatar Islamic Bank (QIB) | Qatar | 5,114 |
20 | 243 | Union National Bank | United Arab Emirates | 5,045 |
21 | 244 | Arab Bank | Jordan | 5,028 |
22 | 249 | Israel Discount Bank | Israel | 4,868 |
23 | 257 | Commercial Bank | Qatar | 4,672 |
24 | 267 | BankMuscat | Oman | 4,328 |
25 | 272 | Abu Dhabi Islamic Bank | United Arab Emirates | 4,269 |
Highest Movers: Middle East
Regional Rank | World Rank | Bank | Country | Tier 1 capital % change | Tier 1 capital $m |
1 | 596 | Bank Keshavarzi (Agri Bank) | Iran | 156.52 | 1,436 |
2 | 727 | Bank Sohar SAOG | Oman | 43.80 | 992 |
3 | 610 | GFH Financial Group | Bahrain | 29.46 | 1,348 |
4 | 449 | Al Baraka Banking Group | Bahrain | 24.77 | 2,197 |
5 | 516 | Barwa Bank | Qatar | 19.52 | 1,764 |
6 | 279 | Mizrahi Tefahot Bank | Israel | 19.41 | 4,131 |
7 | 267 | BankMuscat | Oman | 18.14 | 4,328 |
8 | 146 | Bank Leumi le-Israel | Israel | 17.99 | 9,986 |
9 | 838 | Union Bank of Israel | Israel | 17.57 | 752 |
10 | 82 | Qatar National Bank | Qatar | 16.58 | 20,108 |
New Entrants: Middle East
World Rank | Bank Name | Country | USD Tier 1 capital |
81 | First Abu Dhabi Bank | United Arab Emirates | 20,508 |
Top Five ROC: Middle East
Regional Rank | World Rank | Bank | Country | Return on capital (%) |
1 | 376 | BLOM Bank | Lebanon | 22.71 |
2 | 314 | Bank Audi | Lebanon | 19.77 |
3 | 637 | HBTF | Jordan | 19.61 |
4 | 82 | Qatar National Bank | Qatar | 19.2 |
5 | 965 | Bank of Jordan | Jordan | 18.45 |