FAB, ENBD rank among top five Mideast lenders as assets of 22 UAE banks hit Dh3.023t

FAB, ENBD rank among top five Mideast lenders as assets of 22 UAE banks hit Dh3.023t

Published: Sun 7 Aug 2022, 5:24 PM

First Abu Dhabi Bank and Emirates NBD, the two largest banks of the UAE, are ranked among the top five lenders in the Middle East, according to Forbes’ list of Top 30 Banks 2022 in the region.

As of June 28, 2022, the 30 banks in the Middle East had a total market value of $586.6 billion and assets worth $2.5 trillion. Gulf banks dominate this year’s ranking, with 25 out of the 30 based in the GCC. Saudi Arabia and the UAE are the most represented countries on the list, with 10 and seven banks, respectively. Qatar follows with four banks, while Morocco has three. Kuwait follows with two banks, and Egypt, Bahrain, Jordan, and Oman with one each.

According to the latest statistics released by the UAE Central Bank (CBUAE), total assets of the 22 national banks in the UAE rose to Dh3.023 trillion in the first five months of 2022, up four per cent (Dh117.3 billion). Assets of national banks accounted for 87.8 per cent of gross banking sector's assets of Dh3.442 trillion by end of last May, against 12.2 per cent for foreign banks. Assets of the 37 foreign banks in the