Home GCC Kuwait Revealed: Top banks in Kuwait Kuwait’s biggest listed banks ranked by total asset size by Gulf Business October 5, 2019 Economic growth across the GCC region accelerated in 2018. GDP growth for the GCC was a much higher 2 per cent last year, against 0.6 per cent in 2017. This aided asset growth for Gulf banks in 2018. There are ongoing efforts and reforms being made towards improving the business environment in the region. In 2019, economic growth is forecast to be slightly higher at 2.1 per cent – and is expected to accelerate to 3.2 per cent in 2020. There remained significant variation in performance, with a small number of banks seeing declining asset bases, but most recorded healthy growth in assets. Many banks achieved good rises in net profit year-on-year. Net profit for the Gulf banking sector increased by 12 per cent in 2018. READ: Top 10 banks in the UAE Looking at Kuwait, the possible cross-border merger between Kuwait Finance House and Ahli United Bank reflects consolidation in the industry. But cross-border transactions are challenging and it is likely that there will continue to be merger activity in the region. READ: Top 10 banks in Saudi Arabia Outlook Bank interest margins may tighten slightly in some GCC markets due to competitive pricing and lower interest rates. Nonetheless, net interest income will grow as loan growth continues, although modestly. Private credit growth was also good in Kuwait. TOP BANKS IN KUWAIT (Based on total assets of listed banks at the end of 2018) 1. National Bank of Kuwait Assets in 2018 ($000): 90,315,585 Assets in 2017 ($000): 86,238,700 Growth percentage (2017-2018): 4.73 2018 net profit ($000): 1,225,531 Return on assets (ROA) in 2018: 1.36% 2. Kuwait Finance House Assets in 2018 ($000): 58,514,531 Assets in 2017 ($000): 57,497,701 Growth percentage (2017-2018): 1.77 2018 net profit ($000): 751,800 Return on assets (ROA) in 2018: 1.28% 3. Burgan Bank Assets in 2018 ($000): 24,077,447 Assets in 2017 ($000): 24,562,629 Growth percentage (2017-2018): -1.98 2018 net profit ($000): 272,999 Return on assets (ROA) in 2018: 1.13% 4. Gulf Bank Assets in 2018 ($000): 19,810,817 Assets in 2017 ($000): 18,826,076 Growth percentage (2017-2018): 5.23 2018 net profit ($000): 187,581 Return on assets (ROA) in 2018: 0.95% 5. Al Ali Bank Kuwait Assets in 2018 ($000): 14,977,207 Assets in 2017 ($000): 14,448,064 Growth percentage (2017-2018): 3.66 2018 net profit ($000): 139,228 Return on assets (ROA) in 2018: 0.93% 0 Comments