UAB: Seven Kuwaiti Banks Rank Top Among 100 Arab Banks 2023
Date
12/23/2024 7:12:14 AM
(MENAFN- Kuwait News Agency (KUNA))
BEIRUT, Dec 23 (KUNA) -- A study by the Union of Arab Banks (UAB) revealed that seven Kuwaiti banks top the list of 100 Arab banks for 2023.
Secretary-General of the Union Wissam Fattouh stated in a press release, Monday, that combined capital of these banks amounted to USD 35.6 billion, while their total assets reached nearly USD 336.6 billion.
National bank of Kuwait (NBK) ranked first locally and ninth regionally in terms of capital, followed by Kuwait Finance House (KFH) in second place locally and 10th regionally, Burgan Bank came third locally and 38th regionally.
Gulf Bank secured fourth place locally and 42nd regionally, while Commercial Bank of Kuwait ranked fifth locally and 49th regionally, the study showed.
Ahli United Bank followed in sixth place locally and 51st regionally, and Kuwait International Bank came seventh locally and 61st regionally.
In terms of total assets, Kuwait Finance House led locally and ranked eighth regionally, followed by National Bank of Kuwait in second place locally and ninth regionally.
Burgan Bank ranked third locally and 41st regionally in terms of total assets, Gulf Bank came fourth locally and 42nd regionally, and Ahli United Bank followed in fifth place locally and 44th regionally.
Commercial Bank of Kuwait ranked sixth locally and 57th regionally, and Kuwait International Bank came seventh locally and 64th regionally, the study revealed.
Fattouh highlighted that the total core capital of the 100 strongest Arab banks reached nearly USD 451.9 billion, with their combined assets amounting to USD 4.2 trillion.
He showed that the UAE recorded the highest number of banks in the list, with 18 entries, followed by Egypt (12 banks), Saudi Arabia (11 banks), Bahrain and Jordan (nine banks each).
Meanwhile, Qatar and Morocco (eight banks each), Kuwait and Oman (seven banks each), Tunisia (six banks), Lebanon and Algeria (two banks each), and Palestine (one bank).
He also noted that 21 Islamic banks were featured among the top 100 Arab banks in 2022, with Qatar and Saudi Arabia contributing four banks each, followed by Kuwait, UAE, and Bahrain with three banks each, Egypt with two banks, and Jordan and Oman with one bank each. (end)
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