Forbes Middle East Most Valuable Banks 2025: Saudi Arabia in the Lead
Forbes Middle East has revealed its list for 30 Most Valuable Banks 2025, featuring banks from seven Middle Eastern countries.
Saudi Arabia dominates the list with 10 banks, representing a total market value of $269 billion. Al-Rajhi Bank maintains its position on the top of the Forbes list, with a market value of $105.6 billion, accounting for 17.6% of the total market value of the 30 banks. 30 Most Valuable Banks 2025
The Forbes Middle East 30 Most Valuable Banks 2025 list has shown an increase in the combined market value of MENA's most valuable banks by 3.4% to reach $600.8 billion as of January 31, 2025, compared to $581.1 billion on February 23, 2024.
The 2025 list includes banks from seven countries, 26 of which are Gulf-based. Saudi banks represents third of the list with 10 banks, followed by the UAE with 7 banks and a market value of $153.4 billion.
Qatar comes next with 6 banks having a market value of $76.7 billion, followed by 3 banks for Morocco and 2 banks for Kuwait, valued at $23.7 billion and $68.4 billion, respectively. Al-Rajhi Bank
Al-Rajhi Bank maintains its position as the most valuable bank in the region, serving 18.5 million customers across 550 branches in Saudi Arabia, Jordan, Kuwait, and Malaysia, as of December 2024. It has a total market value of $105.6 billion.
In 2024, the bank reported a significant growth, increasing its net income by 18.7% to hit $5.3 billion and expanding its total assets by 20.6% to $259.8 billion. Saudi National Bank (SNB)
With a total market value of $54.7 billion, the SNB ranks second in the Forbes list. The bank operates 481 branches, 21 retail service centers, and 93 QuickPay remittance centers in Saudi Arabia, having overseas branches in Bahrain, the UAE, Qatar, and Singapore, in addition to subsidiaries in Pakistan and Türkiye.
The SNB served 14.4 million customers and recorded total assets of $294.4 billion, as of December 2024. Furthermore, the bank expanded into Taiwan's Formosa market in July 2024, issuing a $500 million five-year FRN bond under its $5 billion Euro medium-term note program. Riyad Bank
The Riyad Bank comes in the 9th place, with a total market value of $23.4 billion. It operates 333 branches in Saudi Arabia, a branch in London, an agency in Houston, and a representative office in Singapore.
In 2024, Riyad Bank's net income surged by 15.9% to reach $2.5 billion. Meanwhile, its total assets increased by 16.42% to $120.1 billion. Alinma Bank
In the 10th place comes Alinma Bank, with a market value of $19.9 billion. It was established in 2006 as a Shariah-compliant banking services provider. As of December 2024, Alinma Bank served 5.5 million customers across Saudi Arabia.
In 2024, the bank's net income surged by 20.5% to $1.6 billion. Moreover, it entered into a $756 million Murabaha financing agreement with Bahri to partially fund the acquisition of 9 modern oil tankers. Saudi Awwal Bank (SAB)
The Saudi Awwal Bank secures the 11th spot on the Forbes list, having a market value of $19.7 billion. It has a network of 103 branches and 4,062 employees in Saudi Arabia.
In 2024, the bank's net profit increased by over 15% to hit $2.2 billion. In December 2024, Saudi Awwal Bank issued a $1.1 billion SAR-denominated additional tier 1 Sukuk. Bank Albilad
With a total market value of $13.3 billion, Bank Albilad comes in the 16th place. It offers Shariah-compliant banking services through more than 107 branches across Saudi Arabia.
Moreover, Bank Albilad owns Albilad Investment Company, Albilad Real Estate Company, Enjaz Payment Services Company, and Financial Solutions Company for Investment. In 2024, the bank's net profit jumped by 18.5% to hit $748.4 million. Arab National Bank (anb)
The 18th place goes for the Arab National Bank, with 122 branches in Saudi Arabia, 58 remittance centers, and one branch in the UK. It has a total market value of $11.4 billion.
In 2024, the anb's net profit grew by 22% to reach $1.3 billion. Furthermore, the Saudi Real Estate Refinance Company extended its refinancing agreement with the Arab National Bank with an additional $133.3 million in May 2024. BSF
Banque Saudi Fransi (BSF) secures the 19th place with a market value of $10.7 billion. It serves around 1.3 million customers across Saudi Arabia, through 81 branches, 393 ATMs, and 27,816 terminals.
In 2024, the BSF's assets were values at $78.1 billion. The bank raised a $750 million five-year Asian syndicated loan from 26 investors in November 2024. Moreover, it issued a $750 million sukuk in January 2025. Bank AlJazira
Bank AlJazira ranks 24th, having a market value of $5.15 billion. It provides Shariah-compliant banking services across 73 branches and 38 Fawri remittance centers in Saudi Arabia.
In 2024, the bank's net profit grew by 20.7% to hit $328.3 million. It also issued a $266.7 million SAR-denominated additional tier 1 Sukuk under its $1.3 billion capital issuance program in January 2025. The Saudi Investment Bank (SAIB)
SAIB secures the 26th place on the Forbes list. It has a market value of $5.03 billion, serving over 927,000 customers across 51 branches in Saudi Arabia.
The bank's total assets recorded a growth of 20.5% in 2024 to hit $41.8 billion. In 2024, SAIB Venture Studio launched its first product, the SAIB Travel App.
Short link :
Post Views: 63
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
6 hours ago
- Asharq Al-Awsat
Saudi Arabia Prepares Investment Environment for Food Security with Private Sector Participation
The Saudi government has granted the General Authority for Food Security (GFSA) the authority to expand its revenue sources through investment initiatives and strategic partnerships with the private sector. The new move is intended to enhance the Authority's capacity to fulfill its mandate, align with national goals, and operate within regulatory frameworks, while also cultivating a competitive investment environment within the food security sector. Recently, the Council of Ministers approved the formal organization of the GFSA, further reinforcing its role in safeguarding national interests and ensuring compliance with relevant regulations. This development follows the Cabinet's decision in January 2023 to rename the former Grain Silos and Flour Mills Organization as the General Authority for Food Security. The change aims to unify the efforts of government bodies and the private sector, improve system efficiency, and raise overall performance. The investment of the Authority's funds will be jointly managed by the Minister of Environment, Water and Agriculture, who also chairs the GFSA, and the Minister of Finance. The collaboration ensures the effective use of revenues in a way that supports long-term financial sustainability. Fees for services provided by the Authority will be set in coordination with the Ministry of Finance and the Center for Non-Oil Revenue Development until formal governance procedures are established. Under the new regulatory structure, the GFSA is authorized to propose and amend laws, policies, and strategies related to food security. It can also recommend updates to the list of strategic commodities in coordination with other relevant bodies. The Authority is tasked with developing and overseeing emergency response plans and strategic food storage policies. It will also supervise the storage of key food commodities by the private sector, monitor usage and rotation, and take necessary action based on its findings. In addition, it will assess food loss and waste throughout the supply chain and formulate strategies to minimize it, including recycling programs in partnership with other entities. The GFSA is required to establish electronic links with public and private institutions to access necessary data, and it may enter into agreements related to food security both domestically and internationally. Its funding will come from government allocations, service fees, investment returns, and approved donations, with all revenue managed through accounts coordinated with the Ministry of Finance.
Saudi Gazette
12 hours ago
- Saudi Gazette
Iran slams US nuclear proposal, says it will continue to enrich uranium
TEHRAN — Iran's supreme leader has denounced a proposal by the United States aimed at curbing Tehran's nuclear efforts and demanded that his country retains independence amid reports of Washington offering to become involved in Tehran's nuclear program. Despite several rounds of talks between the two sides to thrash out a new nuclear deal major sticking points remain, with Iran insisting on its right to nuclear enrichment. 'The first word of the US is that Iran should not have a nuclear industry and should rely on the United States,' Ayatollah Ali Khamenei told a crowd gathered in Tehran to commemorate the death of Imam Khomeini, the founder of Iran's Islamic Republic. 'Our response to the US' nonsense is clear: they cannot do a damn thing in this matter,' he said. The US sent a nuclear deal proposal to Iran on Saturday. CNN has learned this suggests the US could invest in Iran's civilian nuclear power program and join a consortium that would oversee the enrichment of low-level uranium inside Iran for an unspecified amount of time. That potential consortium would be expected to include Middle Eastern nations and the UN's nuclear watchdog, the International Atomic Energy Agency. Khamenei said Wednesday that Iran is refusing to allow the United States to give a 'green or red light' with its nuclear program and stressed on 'national independence.'A senior Iranian official told CNN on Monday that the US proposal is 'incoherent and disjointed, very unrealistic, and with excessive demands.'US President Donald Trump said on Monday, seemingly contrary to what was proposed to Iran, that the deal will not allow uranium enrichment.'Under our potential Agreement — WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM,' Trump wrote in a post on his Truth Social supreme leader added on Wednesday that his country has been 'able to achieve a complete nuclear energy cycle,' a feat only achieved by a few countries.'Uranium enrichment is an essential part of the Islamic Republic's nuclear program, and we will not abandon it,' Khamenei and the US concluded a fifth round of high-stakes nuclear talks in Rome on May 23 amid growing skepticism in Tehran about the chances of a deal. After that round of discussions, the two sides 'agreed to meet again in the near future,' a senior US administration official said at the time. — CNN
Saudi Gazette
a day ago
- Saudi Gazette
Saudi Arabia to host second WTO regional trade policy course in 2025
Saudi Gazette report RIYADH — The General Authority for Foreign Trade (GAFT) held a virtual meeting with the World Trade Organization (WTO) to discuss preparations for the second edition of the Regional Trade Policy Course (RTPC), scheduled to take place in the Kingdom in 2025. Deputy Governor for Shared Services Nasser Al-Dughaither, represented GAFT in the meeting. The meeting, included GAFT's Director General of Human Resources Hamoud Al-Malki and Director of Talent and Development Badr Al-Ajlan, focused on enhancing cooperation to organize the RTPC, improving the course's quality and outcomes, and developing specialized workshops for stakeholders involved in trade negotiations. These efforts aim to deepen participants' understanding of WTO agreements, rules, and procedures. Al-Dughaither emphasized that Saudi Arabia's three-year hosting of the RTPC reflects its global economic leadership, particularly in the Middle East, and aligns with national goals to empower regional trade policymakers and elevate their capacity to meet international trade standards. He expressed optimism about the upcoming edition, building on the success of the previous course, which featured robust scientific content and active participant engagement. The first edition of the RTPC was hosted in Saudi Arabia from October 13 to December 5, 2024, in partnership with King Saud University and the WTO. It saw participation from around 25 government officials representing nine countries, along with 12 Saudi government entities, covering over 24 training topics.
