A recent report published by the Union of Arab Banks, in Beirut, stated that the banking sector in the United Arab Emirates is still the biggest banking sector in the region with assets reaching $463 billion dollars at the end of March, of this year, nearly a fifth of total Arabic bank assets at $2.51 trillion dollars. The volume of shares in the UAE banking sector reached $281 million dollars.
A report issued by the International Arab Banking Summit of 2011, held recently in Rome, found Emirates NBD to be the largest Arab bank in 2010 for the fourth consecutive year in terms of assets, capital and shares. Emirates NBD was rated biggest of 470 commercial banks evaluated. The bank's assets totaled $77.98 billion dollars, with a volume share size of $9.19 billion dollars.
Emirates NBD also ranked first in terms of volume of loans, valued at $53.7 billion dollars by the end of 2010. The National Commercial Bank (Alahli) ranked second, with assets totaling approximately $75.29 billion dollars, with a volume share size of $8.76 billion dollars. In terms of deposits, Saudi National came in first with $61.1 billion dollars. In terms of profits, Al Rajhi bank was first with $1.8 billion dollars in profits, followed by Samba Financial Group with $1.227 billion dollars in profits, and Qatar National Bank with profits totaling $1.15 billion dollars. Saudi Alahli ranked fourth in terms of profits, with the Emirates NBD in fifth.
© Yalla Finance 2011
