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28 March 2024

Emirates NBD remain largest

Published
By Staff
Emirates NBD, a merger of two major local banks, retained its position as the largest Arab bank in terms of assets and capital at the end of 2010 for the fourth year running while the UAE remained the top banking sector in the region.
 
At the end of 2010, ENBD controlled nearly $77.98 billion in assets, the largest in the Arab world’s nearly 470 commercial banks, according to a banking report by the Beirut-based Union of Arab Banks (UAB).
 
ENBD also had the largest shareholders equity in the Arab banking sector, standing at nearly $9.19 billion at the end of 2010. It also topped in terms of loans, which totalled about $53.7 billion by the end of 2010.
 
“Statistics from the banking sectors in the Arab world showed that ENBD was ahead of all regional banks in terms of assets for the fourth successive year,” UAB said in the study, published in its June banking bulletin.
 
Next to ENBD was National Commercial Bank (NCB) of Saudi Arabia, with assets of around $75.29 billion at the end of 2010. It also had the second largest shareholders equity of about $8.76 billion but the largest deposits of $61.1 billion.
 
The report showed that Qatar National Bank (QNB) was ranked third by assets at $61.3 billion, followed by Egypt’s Alahli Bank at $52.3 billion, Jordan’s Arab Bank, at around $51 billion and the Saudi American Bank Group (SAMBA) at nearly $49.9 billion. Al Rajhi Bank of Saudi Arabia controlled the eighth largest assets of $49.2 billion while the UAE’s Abu Dhabi Commercial Bank and Riyadh Bank of Saudi Arabia had the ninth and 10th largest assets of around $48.5 billion and $46.2 billion at the end of 2010 respectively.
 
In terms of profits, Al-Rajhi topped the list with around $1.8 billion in 2010, followed by SAMBA with its net income standing at $1.227 billion. QNB came third with around $1.15 billion followed by NCB and ENBD with net profits of nearly $1.099 billion and $911 million respectively.
 
The report showed the UAE, the second largest Arab economy after Saudi Arabia, maintained its position as having the largest banking sector in the region, with its assets of $462 billion at the end of March accounting for nearly a fifth of the Arab banking sector’s total assets of about $2.51 billion.
 
The UAE also topped by loans, which totalled $281 billion and by shareholders equity, which stood at nearly $75.9 billion at the end of March. Deposits with UAE banks were also the largest in the region, standing at $285.5 billion.
 
Saudi Arabia had the second largest assets of $394.9 billion at the end of March, followed by Iraq at $308 billion and Egypt at $213.3 billion. Bahrain and Qatar had the fifth and sixth largest assets of $201.1 billion and $158.5 billion.
 
The report put the bank assets at the end of March at around $153.4 billion in Kuwait, $132.4 billion in Lebanon, $117.4 billion in Morocco, $102.4 billion in Algeria, $51.5 billion in Libya, $50 billion in Jordan, $46.9 billion in Syria, $42.4 billion in Tunisia, $17 billion in Sudan, $8.9 billion in Yemen, $8.6 billion in Palestine and around $1.57 billion in Mauritania.