The GCC banking sector had a good year in 2014 with higher profit growth and returns.

The outlook for the GCC banking sector in 2015 is certainly more challenging but stable. Due to the sharply lower oil price, growth in assets and net profit for banks is unlikely to match that of last year.

But although lower oil revenues will impact growth, non-oil economic growth is expected to be solid, including that in Abu Dhabi and Dubai. Qatar’s GDP growth will remain strong this year and next as the government increases spending on big infrastructure projects. Reserves built up in Saudi will also help maintain spending. Kuwait is forecast to grow at less than two per cent in 2015 but the banking sector is in better condition to cope. Oman and Bahrain, the two smallest GCC states are expected to see reasonable economic growth, although Bahrain is more exposed to lower oil prices.

BANK ASSETS NET PROFIT($000) RANK COUNTRY
Qatar National Bank 133,614,471 2,889,461 1 Qatar
National Commercial Bank 115,967,489 2,344,851 2 KSA
National Bank of Abu Dhabi 102,395,511 1,518,886 3 UAE
Emirates NBD 98,835,010 1,399,137 4 UAE
Al Rajhi Banking Corporation 82,056,415 1,822,979 5 KSA
National Bank of Kuwait 74,323,098 933,653 6 Kuwait
Kuwait Finance House 58,621,244 546,144 7 Kuwait
Samba Financial Group 57,973,021 1,334,687 8 KSA
First Gulf Bank 57,764,362 1,553,236 9 UAE
Riyad Bank 57,223,811 1,160,642 10 KSA
Abu Dhabi Commercial Bank 55,545,729 1,143,856 11 UAE
Banque Saudi Fransi 50,340,507 937,691 12 KSA
Saudi British Bank 50,029,138 1,137,616 13 KSA
Arab National Bank 43,911,561 767,241 14 KSA
Dubai Islamic Bank 33,729,202 763,334 15 UAE
Ahli United Bank 33,444,888 531,254 16 Bahrain
Commercial Bank of Qatar 31,772,623 533,026 17 Qatar
Abu Dhabi Islamic Bank 30,466,595 476,638 18 UAE
Arab Banking Corporation 29,356,000 318,000 19 Bahrain
Mashreq Bank 28,815,758 676,904 20 UAE
Burgan Bank 26,446,308 248,055 21 Kuwait
Qatar Islamic Bank 26,402,875 458,393 22 Qatar
Saudi Hollandi Bank 25,765,125 485,576 23 KSA
Union National Bank 25,446,023 550,102 24 UAE
Bank Muscat 25,268,333 423,966 25 Oman
Saudi Investment Bank 24,967,051 383,061 26 KSA
Al Baraka Bank Group 23,463,589 274,767 27 Bahrain
Al Rayan 22,003,920 554,173 28 Qatar
Alinma Bank 21,563,162 337,182 29 KSA
Gulf International Bank 21,300,200 85,600 30 Bahrain
Doha Bank 20,746,583 373,258 31 Qatar
Gulf Bank 18,187,890 120,982 32 Kuwait
Bank Al Jazira 17,747,714 152,658 33 KSA
Commercial Bank of Kuwait 14,373,105 167,594 34 Kuwait
Al Khaliji Commercial Bank 14,077,493 154,645 35 Qatar
Commercial Bank of Dubai 12,773,551 327,323 36 UAE
Bank Al Bilad 12,061,310 230,408 37 KSA
Al Ali Bank Kuwait 11,937,888 128,284 38 Kuwait
Qatar International Islamic Bank 10,548,751 226,873 39 Qatar
Barwa Bank 10,059,032 176,191 40 Qatar
RAKBANK 9,482,754 396,026 41 UAE
Bank of Bahrain and Kuwait 9,311,092 133,794 42 Bahrain
Boubyan Bank 9,034,208 97,253 43 Kuwait
Bank Dhofar 8,296,425 105,073 44 Oman
Ithmaar Bank 7,860,904 -8,847 45 Bahrain
National Bank of Oman 7,730,107 130,566 46 Oman
National Bank of Bahrain 7,283,130 142,120 47 Bahrain
United Arab Bank 6,999,533 164,827 48 UAE
Bank of Sharjah 6,821,231 77,843 49 UAE
Sharjah Islamic Bank 6,650,072 80,304 50 UAE