GLOBAL: Emirates NBD retained its position as the bank with the largest assets and capital in the Arab banking sector at the end of 2010, for the fourth consecutive year, while the UAE headed the region’s banking sector, according to the Union of Arab Banks’ banking report released in June.
Emirates NBD controlled close to US$77.98 billion in assets, US$9.19 billion in shareholders equity and US$53.7 billion in financing.
The bank with the largest deposits was National Commercial Bank (NCB) of Saudi Arabia with US$61.1 billion. NCB also had assets of around US$75.9 billion as well as US$8.76 billion in shareholders’ equity.
Saudi Arabia’s Al Rajhi Bank was listed as the bank with the highest profits at US$1.8 billion. The bank was also ranked eighth in terms of assets, at US$49.2 billion.
The UAE had assets of US$462 billion at the end of March 2011, accounting for nearly a fifth of the sector’s total assets of US$2.51 billion.
It also revealed that the UAE had the highest financing, shareholders equity, and deposits in its banks for same period: at US$281 billion, US$75.9 billion and US$285.5 billion respectively.