According to Fitch Ratings’ 2024 outlook report, rising interest rates and oil prices will support overall solid economic conditions for the Middle East and maintain reasonable levels of liquidity, profitability, and adequate capital buffers in most GCC banking systems in 2024.
Our 2024 list of MENA’s 30 most valuable banks features entities from seven markets, with 26 entries being Gulf-based. The aggregate market value of the 30 most valuable banks has grown by 14% over the last 12 months, hitting $581.1 billion as of February 23, 2024.
Saudi Arabia represents a third of the list with 10 entries, with an aggregate market value of $279.5 billion. The U.A.E. follows with seven entries at a market value of $128.7 billion. Qatar has six entries worth $73.6 billion, and Morocco and Kuwait have three and two banks valued at $20.7 billion and $65.5 billion, respectively.
alrajhi bank continues to top the list, having seen its market value grow by $21.7 billion over the last 12 months to hit $96.6 billion. Saudi National Bank and First Abu Dhabi Bank follow with $68.2 billion and $41.5 billion in market value.
Methodology
We collected data from Middle Eastern banks listed on stock exchanges in the Arab world and ranked them based on their reported market value as of February 23, 2024.
Listed subsidiaries of other listed companies were excluded. Currency exchange rates were taken as of February 23, 2024.
THE MIDDLE EAST'S 30 MOST VALUABLE BANKS 2024
1 alrajhi bank
Managing Director and CEO: Waleed
Abdullah Al-Mogbel
Country: Saudi Arabia
この記事は Forbes Middle East - English の April 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Forbes Middle East - English の April 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
WATCHING OUT FOR THE WEALTHY
Faisal Al-Hamad, CEO of Kuwait-based NBK Wealth, has been leading the NBK Group's client-centric businesses under a unified umbrella since 2021. With over $20 billion in assets under management, he's now planning for expansion.
Middle East Forbes THE MIDDLE EAST'S TOP 100 TRAVEL & TOURISM LEADERS 2024
Thanks to their geographical position and historical and cultural richness, Middle East countries are attracting both tourists and investors.
PARTY WITH PURPOSE
New Forbes billionaire Kabir Mulchandani, Founder and Chairman of FIVE Holdings, is building an entertainment ecosystem with a sustainable footprint. Now, he's talking IPO plans.
EMPIRE BUILDING
Hussain Sajwani, Founder and Chairman of the DAMAC Group, has built a property empire and accumulated over $5 billion in wealth since establishing the group in 1982. As he continues to seek out new opportunities, he's also supporting the next generation as they follow in his footsteps.
The Middle East's RICHEST BILLIONAIRES 2024
It's been a banner year for the mega-wealthy. Forbes found an unprecedented 2,781 billionaires around the globe for this year's World's Billionaires list-141 more than in 2023 and 26 more than the previous record, set in 2021.
Riches from Rags
Investors have blown billions of dollars on loss-making luxury clothing resale firms. VINTED, an unlikely startup from Lithuania, finally cracked the code.
The New Goal Standard
JORGE MAS took a risk with a lucrative bet on Lionel Messi and quickly transformed Inter Miami into MLS's second billion-dollar franchise. But now the clock is ticking.
Reasons To Seek Adventure
Whether it’s the exhilaration of free-falling out of the sky or the thrill of being immersed among the shark-filled reefs of the Indian Ocean, adventure enthusiasts are drawn by the allure of life-changing experiences. Here are some reasons why.
THE MIDDLE EAST'S 30 MOST VALUABLE BANKS 2024
MENA’s banking sector has shown resilience over the last year, supported by higher interest rates and oil prices.
INVESTING AT YOUR FINGERTIPS
Ahmad Hammouda and Seif Amr, Cofounders of Egypt-based digital investment platform Thndr, are facing competition from brokerages and investment banks to democratize investing. Having seen exponential growth in four years, they’re now looking at expanding to the U.A.E. and Saudi Arabia.