By Staff writer
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
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
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.
Market capitalisation seems an odd way to compare the size of these banks given that a number of them are either wholly Govt owned or else only have a minority (illiquid) listing. Surely a comparison by either assets or, better still, Tier 1 capital would be more meaningful. And I doubt whether many readers can be bothered to scroll through all 50 pictures one by one. Why not just show the table?