QNB, FAB top list of largest GCC banks in June

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Qatar National Bank (QNB), which is 51.93% owned by Qatar Investment Authority (QIA), maintained its first position as the largest GCC bank in terms of assets, after the bank's assets increased by 7% to $330.2 billion by the end of June 2023, compared to $308.9 billion in the same period in 2022.

First Abu Dhabi Bank (FAB), the largest UAE bank, ranked second in terms of assets, up 10% compared to the same period last year, reaching $312.3 billion by the end of June 2023.

Saudi National Bank (SNB), the largest bank in the Kingdom, came third place, with assets of $265.6 billion by the end of June 2023, a growth rate of 4% year-on-year (YoY).

Top 20 GCC Banks by Assets ($ bln)
Ranking	Bank	Market	June 2022	June 2023	Change
1	QNB	Qatar	308.9	330.2	+7%
2	FAB	Abu Dhabi	284.0	312.3	+10%
3	SNB	Saudi Arabia	255.6	265.6	+4%
4	Emirates NDB	Dubai	193.6	221.0	+14%
5	Al Rajhi Bank	Saudi Arabia	189.1	209.2	+11%
6	ADCB	Abu Dhabi	129.7	142.0	+9%
7	KFH	Kuwait	74.1	120.3	+62%
8	NBK	Kuwait	111.4	117.3	+5%
9	Riyad Bank	Saudi Arabia	95.5	103.8	+9%
10	SAB	Saudi Arabia	80.7	89.3	+11%
11	Dubai Islamic Bank	Dubai	76.9	81.7	+6%
12	BSF	Saudi Arabia	61.7	65.5	+6%
13	Alinma Bank	Saudi Arabia	49.2	60.5	+23%
14	ANB	Saudi Arabia	56.0	57.6	+3%
15	Mashreq Bank	Dubai	51.4	57.5	+12%
16	Qatar Islamic Bank	Qatar	52.9	50.4	(5%)
17	ADIB	Abu Dhabi	38.7	49.6	+28%
18	Commercial Bank	Qatar	48.5	44.2	(9%)
19	Masraf Al Rayan	Qatar	46.3	44.1	(5%)
20	ABC	Bahrain	34.3	41.0	+20%

In terms of profits, Emirates NBD advanced to the first place among GCC banks during the second quarter of 2023, from the fourth place a year earlier, as the bank’s profits rose by 78% to $1.69 billion this year, compared to $953.7 million in Q2 2022.

SNB retreated to second place in terms of profits, despite a 9% YoY increase in its earnings to $1.33 billion in Q2 2023.

On the other hand, Al Rajhi Bank and QNB fell to the fourth and fifth places, respectively, instead of the second and third places in the comparative quarter last year, on a decline in their profits by 3% and 4%, respectively, as shown in the following table:

Top 20 GCC Banks by Profit in Q2 2023 ($ bln)
Ranking	Bank	Market	June 2022	June 2023	Change
1	Emirates NDB	Dubai	953.7	1696.5	+78%
2	SNB	Saudi Arabia	1223.8	1337.5	+9%
3	FAB	Abu Dhabi	791.8	1147.5	+45%
4	Al Rajhi Bank	Saudi Arabia	1135.6	1106.7	(3%)
5	QNB	Qatar	1068.8	1022.9	(4%)
6	KFH	Kuwait	222.9	556.7	+150%
7	Riyad Bank	Saudi Arabia	429.7	528.6	+23%
8	ADCB	Abu Dhabi	429.2	526.7	+23%
9	Mashreq Bank	Dubai	217.0	519.4	+139%
10	NBK	Kuwait	394.1	458.7	+16%
11	Dubai Islamic Bank	Dubai	364.8	428.2	+17%
12	SAB	Saudi Arabia	288.7	413.3	+43%
13	Alinma Bank	Saudi Arabia	246.7	326.7	+32%
14	ADIB	Abu Dhabi	197.8	318.4	+61%
15	Qatar Islamic Bank	Qatar	263.8	288.5	+9%
16	BSF	Saudi Arabia	223.2	286.2	+28%
17	ANB	Saudi Arabia	188.7	262.9	+39%
18	Commercial Bank of Qatar	Qatar	218.5	220.6	+1%
19	Commercial Bank of Dubai	Dubai	118.5	177.2	+49%
20	Emirates Islamic	Dubai	97.9	166.5	+70%

In terms of customer deposits, QNB and FAB maintained the first and second rankings, respectively, with YoY jumps of 5% and 15%, respectively.

Top 20 GCC Banks by Customer Deposits in Q2 2023 ($ bln)
Ranking	Bank	Market	June 2022	June 2023	Change
1	QNB	Qatar	218.4	229.8	+5%
2	FAB	Abu Dhabi	176.6	203.0	+15%
3	SNB	Saudi Arabia	158.1	160.6	+2%
4	Al Rajhi Bank	Saudi Arabia	147.5	152.2	+3%
5	Emirates NDB	Dubai	127.5	151.5	+19%
6	ADCB	Abu Dhabi	79.6	86.1	+8%
7	KFH	Kuwait	52.0	74.6	+43%
8	Riyad Bank	Saudi Arabia	63.3	72.6	+15%
9	KNB	Kuwait	61.5	65.9	+7%
10	SAB	Saudi Arabia	55.3	59.4	+7%
11	Dubai Islamic Bank	Dubai	55.1	57.4	+4%
12	Alinma Bank	Saudi Arabia	34.8	47.4	+36%
13	BSF	Saudi Arabia	42.1	43.0	+2%
14	ANB	Saudi Arabia	39.1	42.2	+8%
15	ADIB	Abu Dhabi	31.4	41.0	+31%
16	Mashreq Bank	Dubai	29.8	34.5	+16%
17	Qatar Islamic Bank	Qatar	35.6	32.1	(10%)
18	Bank Albilad	Saudi Arabia	23.8	28.3	+19%
19	Bank AlJazira	Saudi Arabia	23.1	24.6	+6%
20	Masraf Al Rayan	Qatar	26.6	24.4	(8%)

In terms of loans, QNB maintained its first place with an increase of 7% to $224.9 billion in Q2 2023, compared to $210.5 billion in the same period in 2022.

Top 20 GCC Banks by Loans in Q2 2023 ($ bln)
Ranking	Bank	Market	June 2022	June 2023	Change
1	QNB	Qatar	210.5	224.9	+7%
2	Al Rajhi Bank	Saudi Arabia	138.6	154.4	+11%
3	SNB	Saudi Arabia	143.0	154.1	+8%
4	FAB	Abu Dhabi	124.9	131.5	+5%
5	Emirates NDB	Dubai	115.8	119.9	+4%
6	ADCB	Abu Dhabi	66.2	74.1	+12%
7	Riyad Bank	Saudi Arabia	63.9	70.2	+10%
8	KNB	Kuwait	65.5	70.1	+7%
9	KFH	Kuwait	39.7	62.1	+56%
10	SAB	Saudi Arabia	47.0	53.0	+13%
11	Dubai Islamic Bank	Dubai	53.0	51.6	(2%)
12	BSF	Saudi Arabia	42.6	45.3	+6%
13	Alinma Bank	Saudi Arabia	35.0	43.1	+23%
14	ANB	Saudi Arabia	38.2	39.7	+4%
15	Qatar Islamic Bank	Qatar	34.8	32.9	(6%)
16	Masraf Al Rayan	Qatar	32.6	30.7	(6%)
17	ADIB	Abu Dhabi	25.1	29.8	+19%
18	Bank Albilad	Saudi Arabia	24.3	26.4	+8%
19	Mashreq Bank	Dubai	24.4	25.9	+6%
20	Muscat Bank	Muscat	23.4	25.7	+10%

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