Gulf’s 50 biggest banks have a combined market cap of more than US$249bn
The Gulf’s 50 biggest banks have a combined market capitalisation of more than US$249bn, an investigation by Arabian Business found.
While the UAE has the highest number of lenders in the rankings, Saudi Arabia and Qatar dominate the top of the list, the findings confirmed.
The UAE has 18 lenders in the top 50, with a combined market cap of US$46.7bn, or 18.7 percent of the total.
By comparison, Saudi Arabia, which tops the rankings, has just 11 lenders in the top 50 and its total market cap accounts for 34.4 percent of the total.
Similarly, the eight Qatari banks among the top 50 account for 20.1 percent of the top 50 banks’ total market cap.
Bahrain, seen as one of the main lending centres in the Gulf, saw just three lenders entering the top 50, while Kuwait had 11 and accounted for 20.09 percent of total market cap.
Completing the list, Oman saw four of its banks present on the list but only contributed 2.29 percent to total market cap.