14 UAE banks figure in GCC’s top 50 list

A list issued by Arabian Business on Monday has shown 14 UAE banks on the list of top 50 banks in the GCC. The list is based on market value in which the highest ranked UAE bank is National Bank of Abu Dhabi, placed seventh with a market value of $8.71 billion. Saudi Arabia’s Al Rajhi Bank has topped the list with a value of $29.59 billion, followed by Qatar National Bank valued at $25.57 billion. National Bank of Kuwait ranked third with value of $16.301 billion in the market. Other UAE banks on the list include, First Gulf Bank ($6.9b); Abu Dhabi Commercial Bank ($5.179); Emirates NBD ($4.024b); Mashreq Bank ($2.991b); Abu Dhabi Islamic Bank ($2.015b); Dubai Islamic Bank ($1.964b); Union National Bank ($1.888b); National Bank of Ras Al Khaimah ($1.618b); National Bank of Fujairah ($1.587b); Commercial Bank of Dubai ($1.48b); United Arab Bank ($841m); National Bank of Umm Al Quwain ($788m); and Emirates Islamic Bank ($731m).