Banks in the UAE and Saudi Arabia (KSA) are amongst the safest in the Middle East and even the world, says a new report.
According to The Banker’s ‘Bank Safety Ranking’ – which analyses the world’s largest 250 banks based on characteristics that help identify their financial stability – eight banks from the Kingdom are in the Middle East Top 10, along with two from the UAE. KSA’s Samba Financial Group ranks at the top of the list, as well as the second in the world.
In terms of the Top 20, the UAE ranked second with seven banks, while Kuwait came in third. This is followed by two banks from Bahrain, and Qatar and Jordan, with one bank each.
The Bank Safety Ranking’s 250 banks manage around $8 trillion in assets across 48 countries, and safety is measured according to eight indices in five groups. The full top ten is below.
Top 10 Safest Banks in the Middle East
- Samba Financial Group (KSA)
- National Commercial Bank (KSA)
- Saudi British Bank (KSA)
- Riyad Bank (KSA)
- Banque Saudi Fransi (KSA)
- Allnma Bank (KSA)
- Al Rajha Bank (KSA)
- National Bank of Abu Dhabi (UAE)
- Arab National Bank (KSA)
- Mashreq (UAE)