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Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Three UAE lenders among top five GCC banks

By Hilal Mir
June 21, 2023 7:08 pm
  • In 2022, the UAE's banking sector had assets of over $1.5 trillion, and Saudi Arabia's banking sector had assets of over $1 trillion.
  • The UAE and Saudi Arabia dominate the Gulf Cooperation Council banking sector as both have large and growing domestic markets.

Dubai, UAE — The United Arab Emirates (UAE) and Saudi Arabia dominate the Gulf Cooperation Council (GCC) banking sector as both have large and growing domestic markets, which provides a strong base for their banking sectors. Both countries attract a high level of foreign investment, which provides capital for their banking sectors. The UAE is the second-largest recipient of foreign direct investment (FDI) in the Middle East, and Saudi Arabia is the largest recipient of FDI in the Middle East. In 2022, the UAE’s banking sector had assets of over $1.5 trillion, and Saudi Arabia’s banking sector had assets of over $1 trillion. Here is a look at top 10 GCC banks by Market Cap and the top 10 Islamic banks in the region:

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