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Seven Kuwaiti banks among 1000 largest banks in world

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The Secretary-General of the Union of Arab Banks, Dr. Wissam Fattouh, stated that according to an analytical study issued by the General Secretariat of the Union, Kuwait ranked fourth in terms of the number of banks that entered the list of the largest 1000 banks in the world, with 7 Kuwaiti banks on the list, topped by the National Bank of Kuwait, the Kuwait Finance House, Burgan Bank, the Gulf Bank, the Commercial Bank of Kuwait, Al-Ahli Bank and the Kuwait Industrial Bank, reports Al-Rai daily.

He explained that the total core capital of these banks amounts to about $29.8 billion, and they also manage assets estimated at $272.4 billion, pointing out that the financial data available to Arab banks for the end of 2021 show that 72 Arab banks entered the mentioned list, where the total capital reached The main base of the 72 Arab banks is about $374.9 billion, while their assets amounted to $3.4 trillion.

Fattouh pointed out that the UAE recorded the largest number of Arab banks that entered the list of the largest 1000 banks in the world, as 14 Emirati banks were included in it, 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 finally Tunisia and Lebanon (two banks each).

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Arab Times

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