Assets of banks in Saudi Arabia are GCC's second highest

Banks operating in Saudi Arabia ranked second among their GCC peers in terms of assets value during H1 2018, with a total value of $617 billion, Emirates News Agency (WAM) reported on Wednesday.

UAE banks continue to lead Gulf peers with $748 billion worth of assets during the same period, while banks in Kuwait ranked third (with $215 billion), followed by Bahrain ($188 billion) and finally Oman ($87 billion).

In terms of individual banks, First Abu Dhabi Bank (FAB) topped the Gulf banks with $188 billion worth of assets by the end of H1, while the Saudi National Commercial Bank's (NCB) assets amounted to $121 billion, followed by National Bank of Kuwait with $90 billion and Bahrain Ahli United Bank with $34 billion as well as Bank Muscat with $30 billion, WAM added.

In terms of the market cap, NCB topped with $38.9 billion during H1, followed by FAB with $36 billion during the same period.

Then came the National Bank of Kuwait with $15.2 billion market value, Bahrain Ahli United Bank with $4.8 billion and Bank Muscat with $2.9 billion.