Arab Today, arab today emirates nbd largest arab bank
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Emirates NBD largest Arab bank

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Arab Today, arab today Emirates NBD largest Arab bank

Dubai - Arabstoday

Emirates NBD, formed on 16 October 2007 as a result of merger of two major local banks, retained its position as the largest Arab bank in terms of assets and capital at the end of 2010 while the UAE remained the top banking sector in the region, controlling approximately $77.98 billion in assets, as well as the largest shareholders equity in the Arab banking sector, which stands at about $9.19 billion. Not to be left behind in lending, Emirates NBD has given nearly $53.7 billion as loan. “Statistics from the banking sectors in the Arab world showed that ENBD was ahead of all regional banks in terms of assets for the fourth successive year,” UAB said in the study, published in its June banking bulletin. National Commercial Bank (NCB) of Saudi Arabia stands next after NBD of UAE, with assets of around $75.29 billion. It also had the second largest shareholders equity of about $8.76 billion but the largest deposits of $61.1 billion. Qatar National Bank (QNB) was ranked third by assets at $61.3 billion, followed by Egypt’s Alahli Bank at $52.3 billion, Jordan’s Arab Bank, at around $51 billion and the Saudi American Bank Group (SAMBA) at nearly $49.9 billion. Al Rajhi Bank of Saudi Arabia controlled the eighth largest assets of $49.2 billion while the UAE’s Abu Dhabi Commercial Bank and Riyadh Bank of Saudi Arabia had the ninth and 10th largest assets of around $48.5 billion and $46.2 billion at the end of 2010 respectively. When it comes to making profits, Al-Rajhi topped the list with around $1.8 billion in 2010, followed by SAMBA with its net income standing at $1.227 billion. QNB came third with around $1.15 billion followed by NCB and ENBD with net profits of nearly $1.099 billion and $911 million respectively. The report showed the UAE, the second largest Arab economy after Saudi Arabia, maintained its position as having the largest banking sector in the region, with assets of nearly $462 billion.

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