7 Emirati Banks Dominate Forbes Middle East’s 2024 List of Top 30 Banks by Market Cap
7 Emirati banks have topped Forbes Middle East’s list of the 30 largest banks in the Middle East by market capitalization for 2024.
The banks included in the list are:
- First Abu Dhabi Bank
- Emirates NBD
- Abu Dhabi Commercial Bank Group
- Dubai Islamic Bank
- Abu Dhabi Islamic Bank
- Mashreq
- Dubai Commercial Bank
26 Gulf Banks Among Top 30 Banks on Forbes Middle East List
The 2024 list includes banks from 7 countries in the region.
Mentioning that Gulf is dominating the list with 26 banks, including:
- 7 Emirati banks with a market capitalization of $129 billion.
- Saudi Arabia accounted for a third of the list with 10 banks and a total market capitalization of $279.5 billion.
- The list also includes 6 banks from Qatar with a market capitalization of $73.6 billion.
Forbes Middle East unveiled the list of the “30 Largest Banks in the Middle East by Market Cap” for 2024.
To compile the ranking, the Forbes team collected data from banks listed on Arab stock markets.
And then ranked them according to their market capitalization as of February 23, 2024.
Banks that are subsidiaries of banks already ranked on the list were excluded.
Reasons of the Emirati Banks Superiority
The dominance of Emirati banks in the list is a testament to the strength and stability of the UAE banking sector.
The banks have consistently shown strong financial performance and have been active in supporting the growth of the UAE economy.
The strong performance of the UAE banking sector is also due to the favorable regulatory environment in the country.
The Central Bank of the UAE has implemented a number of measures to strengthen the banking sector and protect consumers.
We congratulate you on the occasion of Eid al-Fitr, may God bring it back to the Islamic nation with all goodness,happiness and peace. pic.twitter.com/Pmupf02TPH
— UAE Voice (@uae_voiceeng) April 9, 2024
Mentioning that the UAE banking sector will continue to grow in the coming years.
The country’s economic growth is expected to remain strong, and the banks are well-positioned to capitalize on this growth.
The inclusion of 7 Emirati banks in the top 30 list is a positive development for the UAE economy.
It is also playing a key role in supporting the growth of the economy.
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