Qatar National Bank continues to be largest bank in MEA: S&P
It is also the 100th biggest bank globally.
With over $286.35b in assets as of 31 March, Qatar National Bank (QPSC) remained the largest bank by assets in the Middle East and Africa for the sixth consecutive, according to S&P Global Market Intelligence’s latest regional rankings. This is over $20b more than the second biggest bank in the region, the United Arab Emirates-based First Abu Dhabi Bank PJSC.
But despite its humongous size in regards to the rest of lenders in the region, QPSC is only the 100th biggest bank by asset-size globally in 2021—dropping four places from its 96th place finish in the previous ranking.
UAE-based Emirates NBD Bank PJSC, Israel's Bank Leumi le-Israel B.M. and South Africa's Standard Bank Group rounded up the top five in that order, respectively.
In terms of quantity, Israel and Saudi Arabia have the highest number of banks in the top 30, with five each, followed by South Africa and the UAE with four banks each.
Bank Hapoalim B.M. rose one place to sixth, whilst Saudi Arabia's highest-placing bank, The Saudi National Bank, placed at seventh.
Rounding up the top 10 is the National Bank of Egypt, with assets of $125b as at June 30, 2020, rose to 10th from 15th.
Israeli banks also notedly saw their asset-size expand, with the Mizrahi Tefahot Bank—which completed the acquisition of Union Bank of Israel in September 2020—moving up by three places to the 11th spot. Meanwhile, Israel Discount Bank moved up three places to 16th.
Zimbabwe-based CBZ Holdings, Israel-based F.I.B.I. Holdings, Iran-based Bank Sepah and Qatar's Qatar Islamic Bank QPSC were new entrants in this year's ranking, at the 17th, 26th, 28th and 30th spots, respectively.
Photo courtesy of Trinidade (Wikimedia Commons)