Kuwait ranked fourth in terms of number of banks in the list of the world’s largest banks, with 7 Kuwaiti banks on the list, surpassed by the National Bank of Kuwait, Kuwait Finance House, Burgan Bank, Gulf Bank, Commercial Bank of Kuwait, Al-Ahli Bank and Industrial Bank of Kuwait
Kuwait – The Secretary General of the Union of Arab Banks, Dr. Wissam Fattouh, said that according to an analysis published through the General Secretariat of the Union, Kuwait ranks fourth in terms of number of banks on the list of among the 1000 largest. Banks in the world, with 7 Kuwaiti banks on the list, topping the list are the National Bank of Kuwait, the Kuwait Financial House, the Burgan Bank, the Gulf Bank, the Commercial Bank of Kuwait, the Al-Ahli Bank and the Industrial Bank of Kuwait, reports the al-Rai newspaper. .
He explained that the overall core capital of those banks amounts to around $29. 8 billion and that they also manage assets estimated at $272. 4 billion, noting that the financial knowledge that will be had of Arab banks by the end of 2021 shows that 72 Arab banks have entered. the countries discussed. The main base of the 72 Arab banks is about $374. 9 billion, while their assets amounted to $3. 4 trillion.
Fattouh noted that the UAE has the largest number of Arab banks in the list of the world’s 1,000 largest banks, with 14 Emirati banks on the list, followed by Saudi Arabia (10 banks), Bahrain and Qatar (8 banks). ), then Egypt and Kuwait (7 banks each), the Sultanate of Oman and Morocco (5 banks each), Jordan (4 banks) and, despite everything, Tunisia and Lebanon (2 banks each). Overall core capital, which stood at about $115. 1 billion, was followed by UAE banks ($89. 8 billion), Qatar banks ($54. 9 billion), Kuwait banks ($29. 8 billion) and Egyptian banks ($25. 4 billion).
In terms of assets, UAE banks top the list in terms of total assets, amounting to around $835. 4 billion, followed by Saudi banks ($808. 8 billion), Qatar ($535. 2 billion) and then Egyptians ($354. 9 billion). ). Fattouh noted that there are 18 Islamic Arab banks on the list of the 1000 largest banks in the world through the base capital by the year 2021, distributed as follows: four Islamic banks for each of the United Arab Emirates, Saudi Arabia and Qatar, three Islamic banks in Kuwait, two banks in Bahrain and one bank in Egypt, indicating that the study he has ready is based on data published by the magazine ‘The Banker’ in July 2022, which includes the 1000 largest banks in the world. global according to Tier 1 capital until the end of 2021.
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