The assets of the 30 largest banks in the Middle East total $2.5 trillion

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The top 30 banks in the Middle East have a total market value of $586.6 billion and total assets of $2.5 trillion as of June 28, according to Forbes Middle East, revealing its ranking of the top 30 banks in the Middle East. region for 2022.

Saudi Arabia tops the ranking of top banks with 10 entries, followed by the United Arab Emirates with seven, Qatar with four, Morocco with three, Kuwait with two, and Egypt, Bahrain, Jordan and Egypt. ‘Oman with one each.

For the second consecutive year, Qatar’s QNB Group topped the list with $300.3 billion in total assets. UAE FAB, Saudi Bank Al Rajhi and Saudi National Bank follow in a three-way tie for second place.

Emirates NBD, based in the United Arab Emirates, completes the top five. Together, these five banks amassed $16.8 billion in profits in 2021, or 49% of the total profits of the 30 banks on the list.

The list recognizes the most resilient banking heavyweights in the region that have emerged strong from the pandemic crisis, according to a statement.

To build the list, Forbes Middle East compiled data from listed stock exchanges in the Arab world and ranked companies based on sales, earnings, assets and market value.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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