S&P Global Market Intelligence Announces Top 30 Banks by Assets in Africa and the Middle East

The ranking reflects each bank’s most recently reported total assets, converted into U.S. dollars using end-of-period exchange rates. Most banks featured in the ranking have disclosed financial data as of March 31; exceptions are noted. No adjustments were made to compensate for differing accounting standards across the region.

Qatar National Bank — which is the only Qatari bank in the ranking — has 355 branches across 19 countries. Around half of the branches — 177 — are in Egypt. Its other large branch networks include those in Qatar and Indonesia, where it has 58 and 50 branches, respectively.

The second-largest bank in the ranking, South Africa’s Standard Bank Group Ltd., had $127.87 billion in assets as of Dec. 31, 2015, while drawing nearly all of its operating income locally that year.

Saudi Arabia’s National Commercial Bank took third place, with total assets of $120.85 billion. In May, National Commercial’s chairman, Mansour al-Maiman, said the company is planning to expand in Turkey, where it already has 288 branches, according to SNL Financial data — nearly half of its overall network — and would like to enter a new market — possibly Malaysia, Indonesia or Egypt — as early as 2017.

South Africa’s Investec Ltd. was the smallest of the 30 banks ranked, with $38.68 billion in assets.

Seven of the region’s 30 largest banks have headquarters in Saudi Arabia and combined hold $474.89 billion of the $2.169 trillion in assets reported by the top 30 banks. The United Arab Emirates and South Africa each account for five banks in the ranking, with a total $391.69 billion and $373.93 billion in assets, respectively. Israel had four banks in the top 30, including Bank Hapoalim BM, in fourth place, and Bank Leumi le-Israel BM, in fifth place.