Saudi banks lead Forbes list of most valuable banks

Dubai: Saudi Arabia leads the latest Forbes list of most valuable banks, with 10 entries at a market value of $279.50 billion (Dh1 trillion).

The Kingdom topped the list of 30 banks, which has a combined value of $581.10 billion (Dh2.1 trillion), marking a 14 per cent rise over the last 12 months.

Al Rajhi Bank, Saudi National Bank (SNB), and First Abu Dhabi Bank (FAB) amassed $206.30 billion (Dh757 billion) in market value, accounting for over 35 per cent of the aggregate worth of the 30 banks ranked.

However, the total market cap of the region’s top three most valuable banks is less than the cumulative worth of the 10 Saudi banks on the list valued at $279.50 billion (Dh1 trillion.)