Four Egyptian banks on UAB list of top 1000 banks

The Union of Arab Banks (UAB) included four Egyptian banks to its annual Top 1000 World Banks ranking that released on Monday.

With core capitals worth $7.4 billion, the four banks in the UAB list are the state-run National Bank of Egypt (NBE), Banque Misr, Arab African International Bank (AAIB), and Commercial International Bank (CIB), the union’s secretary general Wissam Fattouh said in a statement.

The four Egyptian banks are managing assets estimated at $152.7 billion.

According to the UAB ranking, 87 Arab banks were also in the list, with core capitals worth around $298.8 billion and assets estimated at $2.6 trillion approximately.

UAE had the largest number of banks on the list at 21, followed by Saudi Arabia with 12. Bahrain, Qatar, and Lebanon each had 10 banks on the list, while Kuwait had seven.

Lebanon, Qatar and Bahrain each had nine banks on the list, followed by Kuwait that had eight. Egypt and Oman each had five on the list, while Morocco had four and Jordan two.

The list had also included 21 Islamic banks, with total core capitals worth $61.2 billion, Fattouh added. UAE also had the largest number of Islamic banks on the list at six, followed by Bahrain with five. Qatar and Saudi Arabia each had four Islamic banks in the list, while Kuwait had two.