20 UAE banks rank in top 1,000 banks worldwide

DUBAI, 27th July, 2016 (WAM) — The General-Secretariat of the Union of Arab Banks, UAB, has announced the inclusion of 85 Arab banks among the top 1,000 banks in the world, including 20 from the UAE.

The General Secretariat report, which is based on data published by “The Banker” magazine regarding the largest 1,000 banks in the world, named the Emirati banks as: National Bank of Abu Dhabi, First Gulf Bank, Abu Dhabi Commercial Bank, Emirates NBD, Dubai Islamic Bank, Mashreq Bank, Union National Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai, RAK Bank, Al Hilal Bank, Sharjah Islamic Bank, National Bank of Fujairah, Bank of Sharjah, National Bank of Umm al Qaiwain, Al Masraf Arab Bank for Investment & Foreign Trade, Noor Bank, United Arab Bank, Invest Bank and Commercial Bank International.

The United Arab Emirates ranked first for the number of banks listed, Saudi Arabia came second (12 banks), both Lebanon and Qatar ranked third (10 banks), Bahrain ranked 4th (9 banks) and Kuwait ranked 5th (8 banks), while Saudi banks topped the list according to the total volume of assets, amounting to about US$578 billion.