7 KUWAITI BANKS ARE AMONG THE LARGEST 1000 INTERNATIONAL BANKS WITH ASSESTS OF 272 BILLION DOLLARS

  • 26/08/2022

Kuwait City: The Secretary-General of the Union of Arab Banks, Wissam Fattouh, announced that Kuwait ranked fourth in terms of the number of banks that entered the list of the largest 1000 banks in the world, with the presence of 7 Kuwaiti banks on the list for the year 2021.


Fattouh said in a press statement that according to an analytical study issued by the General Secretariat of the Union of Banks In Arab countries, the seven banks are, in order: National Bank of Kuwait, Kuwait Finance House (KFH), Burgan Bank, Gulf Bank, Commercial Bank of Kuwait, Al Ahli Bank of Kuwait, and Kuwait International Bank (KIB).

He explained that the total core capital of the seven banks amounted to about $29.8 billion, and they manage assets estimated at more than $272 billion.

The statement said that the financial data available to Arab banks for the end of the year 2021 show that 72 Arab banks entered the list, noting that the UAE recorded the largest number of Arab banks that entered the list (14 banks), followed by Saudi Arabia (10 banks), Bahrain and Qatar (8 banks each). Kuwait and Egypt (7 banks each), the Sultanate of Oman and Morocco (5 banks each), Jordan (4 banks), and finally Tunisia and Lebanon (two banks each).

He pointed out that 18 Arab Islamic banks were included in the list of the largest 1000 banks in the world according to the basic capital for the year 2021, which were distributed among the Arab countries as follows: four Islamic banks in the United Arab Emirates, four in Saudi Arabia, four in Qatar, three Kuwaiti banks, two banks in Bahrain and one bank in Egypt.

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