The GCC banking sector had a good year in 2014 with higher profit growth and returns.
The outlook for the GCC banking sector in 2015 is certainly more challenging but stable. Due to the sharply lower oil price, growth in assets and net profit for banks is unlikely to match that of last year.
But although lower oil revenues will impact growth, non-oil economic growth is expected to be solid, including that in Abu Dhabi and Dubai. Qatar’s GDP growth will remain strong this year and next as the government increases spending on big infrastructure projects. Reserves built up in Saudi will also help maintain spending. Kuwait is forecast to grow at less than two per cent in 2015 but the banking sector is in better condition to cope. Oman and Bahrain, the two smallest GCC states are expected to see reasonable economic growth, although Bahrain is more exposed to lower oil prices.
| BANK |
ASSETS |
NET PROFIT($000) |
RANK |
COUNTRY |
| Qatar National Bank |
133,614,471 |
2,889,461 |
1 |
Qatar |
| National Commercial Bank |
115,967,489 |
2,344,851 |
2 |
KSA |
| National Bank of Abu Dhabi |
102,395,511 |
1,518,886 |
3 |
UAE |
| Emirates NBD |
98,835,010 |
1,399,137 |
4 |
UAE |
| Al Rajhi Banking Corporation |
82,056,415 |
1,822,979 |
5 |
KSA |
| National Bank of Kuwait |
74,323,098 |
933,653 |
6 |
Kuwait |
| Kuwait Finance House |
58,621,244 |
546,144 |
7 |
Kuwait |
| Samba Financial Group |
57,973,021 |
1,334,687 |
8 |
KSA |
| First Gulf Bank |
57,764,362 |
1,553,236 |
9 |
UAE |
| Riyad Bank |
57,223,811 |
1,160,642 |
10 |
KSA |
| Abu Dhabi Commercial Bank |
55,545,729 |
1,143,856 |
11 |
UAE |
| Banque Saudi Fransi |
50,340,507 |
937,691 |
12 |
KSA |
| Saudi British Bank |
50,029,138 |
1,137,616 |
13 |
KSA |
| Arab National Bank |
43,911,561 |
767,241 |
14 |
KSA |
| Dubai Islamic Bank |
33,729,202 |
763,334 |
15 |
UAE |
| Ahli United Bank |
33,444,888 |
531,254 |
16 |
Bahrain |
| Commercial Bank of Qatar |
31,772,623 |
533,026 |
17 |
Qatar |
| Abu Dhabi Islamic Bank |
30,466,595 |
476,638 |
18 |
UAE |
| Arab Banking Corporation |
29,356,000 |
318,000 |
19 |
Bahrain |
| Mashreq Bank |
28,815,758 |
676,904 |
20 |
UAE |
| Burgan Bank |
26,446,308 |
248,055 |
21 |
Kuwait |
| Qatar Islamic Bank |
26,402,875 |
458,393 |
22 |
Qatar |
| Saudi Hollandi Bank |
25,765,125 |
485,576 |
23 |
KSA |
| Union National Bank |
25,446,023 |
550,102 |
24 |
UAE |
| Bank Muscat |
25,268,333 |
423,966 |
25 |
Oman |
| Saudi Investment Bank |
24,967,051 |
383,061 |
26 |
KSA |
| Al Baraka Bank Group |
23,463,589 |
274,767 |
27 |
Bahrain |
| Al Rayan |
22,003,920 |
554,173 |
28 |
Qatar |
| Alinma Bank |
21,563,162 |
337,182 |
29 |
KSA |
| Gulf International Bank |
21,300,200 |
85,600 |
30 |
Bahrain |
| Doha Bank |
20,746,583 |
373,258 |
31 |
Qatar |
| Gulf Bank |
18,187,890 |
120,982 |
32 |
Kuwait |
| Bank Al Jazira |
17,747,714 |
152,658 |
33 |
KSA |
| Commercial Bank of Kuwait |
14,373,105 |
167,594 |
34 |
Kuwait |
| Al Khaliji Commercial Bank |
14,077,493 |
154,645 |
35 |
Qatar |
| Commercial Bank of Dubai |
12,773,551 |
327,323 |
36 |
UAE |
| Bank Al Bilad |
12,061,310 |
230,408 |
37 |
KSA |
| Al Ali Bank Kuwait |
11,937,888 |
128,284 |
38 |
Kuwait |
| Qatar International Islamic Bank |
10,548,751 |
226,873 |
39 |
Qatar |
| Barwa Bank |
10,059,032 |
176,191 |
40 |
Qatar |
| RAKBANK |
9,482,754 |
396,026 |
41 |
UAE |
| Bank of Bahrain and Kuwait |
9,311,092 |
133,794 |
42 |
Bahrain |
| Boubyan Bank |
9,034,208 |
97,253 |
43 |
Kuwait |
| Bank Dhofar |
8,296,425 |
105,073 |
44 |
Oman |
| Ithmaar Bank |
7,860,904 |
-8,847 |
45 |
Bahrain |
| National Bank of Oman |
7,730,107 |
130,566 |
46 |
Oman |
| National Bank of Bahrain |
7,283,130 |
142,120 |
47 |
Bahrain |
| United Arab Bank |
6,999,533 |
164,827 |
48 |
UAE |
| Bank of Sharjah |
6,821,231 |
77,843 |
49 |
UAE |
| Sharjah Islamic Bank |
6,650,072 |
80,304 |
50 |
UAE |
