Lebanon: eleven banks among the top 100 Arab banks 1
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Rédaction Ecomnews Med
Friday 30 November 2018 Last update on Friday, November 30, 2018 At 9:17 AM

According to the annual report published by the specialized magazine “The Banker”, eleven Lebanese banks are among the top 100 banks in the Arab world. The ranking also included 21 UAE banks, 12 Saudi banks, 10 banks from Bahrain, 10 banks from Qatar, 9 from Kuwait, 7 from Morocco and Oman, 6 from Egypt and 5 from Jordan.

The Tier-1 of the 11 Lebanese banks reached $17.1 billion at the end of 2017, which represents 5.1% of the Tier-1 of the top 100 Arab banks (+6.6% year-on-year).

Saudi banks accounted for 28.5% of the combined tier 1 of Arab banks, followed by Emirati (25.6%) and Qatari banks (13.4%). At the end of 2017, the assets of the 11 Lebanese banks combined reached $216.8 billion, which is 7.7% of the top 100 Arab banks’ combined assets, reflecting an increase of 6.1% year-on-year. UAE banks topped the chart, accounting for (24.44%) of total assets, followed by Saudi banks (21.11%) and Qatari banks (14.89%).

Lebanon keeps a solid position in the annual ranking

At the end of 2017, the untaxed profits of the 11 Lebanese banks reached $2.8 billion, which represents 6% of the total profits of Arab banks, displaying a decrease of 2.9% compared to the previous year. Once again, the profits of Saudi banks accounted for the largest share of the total profits of the top 100 banks (26%), followed by Emirati (24.31%) and Qatari banks (13.88%).

Lebanese lenders maintained their strong showing from the previous ranking, with four of the country’s banks making the cut this year.

These include IBL Bank in the 6th place, Bank of Beirut in the 15th, Bank Audi in the 17th and BLOM Bank in the 20th. The fact that Lebanon’s banks are able to keep up a solid presence in this annual ranking is a testament to the sophistication of the country’s financial sector which has been enduring sluggish domestic growth, persistent regional conflicts, and a long-lasting refugee crisis.

 

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