Saudi National Bank (SNB) has dislodged Qatar National Bank (QNB) from the top of the Middle East table in The Banker’s Top 1000 World Banks ranking for 2022, becoming the first Saudi lender to lead the table since 2016.
Middle Eastern lenders have performed well against their international peers in this year’s ranking, with economies in the Gulf and Israel in particular benefiting from a recovery in oil prices and rapid vaccine rollouts, respectively. After a mixed performance last year, 21 of the region’s 25 largest lenders have achieved improved positions in this year’s ranking, with each reporting improved pre-tax profits as impairments fell.
