QNB tops the list of biggest GCC banks for 5th straight year

Date

3/8/2016 9:51:50 PM

(MENAFN- The Peninsula)

By Satish Kanady

DOHA: QNB Group maintained its prime position as the GCC region’s biggest bank in 2015 for the fifth consecutive year a new study by market intelligence portal ‘Argaam’ revealed.

QNB saw its assets growing by 11 percent year-on-year (YoY) to exceed $147bn in the same period. The assets were bolstered by an increase deposits and higher loan book growth.

Saudi Arabia’s National Commercial Bank (NCB) ranked second as its total assets rose 3 percent YoY to $119.8bn. National Bank of Abu Dhabi (NBAD) followed with an 8 percent YoY increase in assets to $110.7bn.

Four Tadawul-listed banks ranked among the top 10 largest banks in the region (by assets). Al-Rajhi Bank placed fifth with assets worth $84.1bn followed by Samba Financial Group and Riyad Bank which ranked seventh and tenth with assets valued at $62.7bn and $59.5bn respectively.

In terms of net profit QNB Group remained on top registering an eight percent YoY increase in profit to $3.09bn by the end of 2015. NCB followed with 5 percent growth YoY to $2.42bn.

QNB also dominated in the category of deposit growth with an increase of 11 percent YoY in customer deposits to $108.5bn. NCB ranked second despite a three percent YoY decline in customer deposits to $86.2bn.

Meanwhile Saudi British Bank (SABB) dropped to the ninth place with $39.6bn in customer deposits. In addition QNB outperformed its peers in loans and advances as it recorded a 15 percent YoY increase in this category to $106.6bn. Emirates NBD came second with a 10 percent rise to $73.7bn last year when compared to 2014.

NCB claimed the third spot with loans and advances valued at $67.1bn followed by Al-Rajhi Bank with $56bn. Riyad Bank and Samba placed ninth and tenth with $38.6bn and $34.6bn respectively.The Peninsula

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