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.
