du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Three UAE lenders among top five GCC banks

  • 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: