89 Arab Banks Among the Top 1000 World Banks

Union of Arab Banks General Secretariat – Research Department

04/9/2009

The Banker: 89 Arab banks among the top 1000 world banks

The July 2009 issue of the Banker showed that at the end of 2008, 89 Arab banks were among the top 1000 world banks. Those 89 banks have had aggregate assets of about $1.35 trillion, aggregate capital of about $138 billion, and aggregate profits of about $24 billion. The majority of those banks have shown a significant increase in assets (an average growth of 30%) and in capital (an average growth of 22%). On the other hand, we notice a slight decrease in aggregate profits due to the international financial crisis that led to the bankruptcy of dozens of American and European banks. Thus, it is obvious that the Arab banks have dealt efficiently and wisely with the crisis and its effects, beside the support they have received from their national authorities.

1. The distribution of the top Arab banks

Among the top 89 Arab banks, 17 are for the UAE (with consolidated assets of around $300 billion), 11 from each of Bahrain (with consolidated assets of around $115 billion) and Saudi Arabia (with consolidated assets of around $312 billion), 8 from each of Kuwait (with consolidated assets of around $137 billion), Lebanon (with consolidated assets of around $83 billion), and Egypt (with consolidated assets of around $109 billion), 6 from each of Qatar (with consolidated assets of around $90 billion) and Morocco (with consolidated assets of around $77 billion), 4 from each of Jordan (with consolidated assets of around $58 billion) and Tunisia (with consolidated assets of around $14 billion), 3 from Oman (with consolidated assets of around $17 billion), and 1 from each of Algeria (with assets of around $8 billion), Libya (with assets of around $18 billion) and Syria (with assets of around $17 billion). Table 1 shows the distribution of top 88 Arab banks by country of origin.

Table 1: the geographical distribution of the top Arab banks Country Number of banks Total assets ($ million) United Arab Emirates 17 299,818 Bahrain 11 114,781 Saudi Arabia 11 312,194 Egypt 8 109,628 Kuwait 8 136,521 Lebanon 8 83,409 Qatar 6 89,569 Morocco 6 76,920 Jordan 4 57,796

1 Tunisia 4 13,690 Oman 3 17,457 Algeria 1 7,997 Libya 1 18,014 Syria 1 16,569 Total 89 1,354,363 Notes: Banque Misr was not included in the Banker's lists, despite the fact that it is the second largest Egyptian bank. Thus, we have added this bank to the top Arab banks and therefore, the number of Arab banks that should have entered the list of top 1000 world banks is in fact 89 and not 88. Prepared by the WUAB research department.

2. The ranking of the top Arab banks

The Arab country with the largest number of banks is the UAE, with 17 banks. Besides, the largest UAE and Arab bank in terms of assets is the Emirates NBD with assets of $76.9 billion. Internationally, this bank has been ranked the 159th. On the other hand, the last bank in the list was the United Arab Bank (UAE) with assets of $2 billion and was ranked the 973rd internationally. Table 2 shows the assets of the top 88 Arab banks, their rank in their home country, their rank in the Arab region, and their rank internationally.

Table 2: the ranking of top 89 Arab banks Assets Rank Rank Rank Country Bank ($ million) (Country) (Arab) (World) Algeria Crédit populaire d'Algérie 7,997 1 48 694 Arab Banking Corporation 28,486 1 17 329 Gulf International Bank 25,034 2 20 360 Ahli United Bank 23,583 3 21 371 Albaraka Banking Group 10,920 4 38 583 Awal Bank 7,645 5 51 710 Bank of Bahrain and Bahrain 5,760 6 55 787 Kuwait National Bank of Bahrain 5,410 7 59 817 Shamil Bank of Bahrain 2,882 8 80 FB United Gulf Bank 2,869 9 81 FB Al Salam Bank 1,475 10 88 987 Khaleeji Commercial Bank 717 11 89 997 National Bank of Egypt 37,425 1 12 269 Banque Misr 28,846 2 16 325 Commercial International 10,413 3 41 603 Bank(Egypt) National Société Générale 8,393 4 45 FB Egypt Bank Arab African International 7,695 5 49 707 Bank HSBC Bank Egypt 6,207 6 53 FB Bank of Alexandria 5,728 7 58 FB Credit Agricole Egypt 3,918 8 70 FB Arab Bank 45,630 1 4 232 The Housing Bank 7,657 2 50 708 Jordan forTrade and Finance Jordan Kuwait Bank 2,909 3 79 944 Union Bank 1,600 4 87 985

2 National Bank of Kuwait 43,380 1 7 245 Kuwait Finance House 38,203 2 11 264 Commercial Bank of 15,604 3 30 479 Kuwait Bourgan Bank 14,178 4 33 501 Kuwait Al Ahli Bank of Kuwait 10,847 5 39 589 Bank of Kuwait & the 8,105 6 47 FB Middle East Kuwait International Bank 3,472 7 78 926 Boubyan Bank 2,732 8 82 952 Audi Saradar Group 20,417 1 24 449 Blom Bank 17,900 2 26 437 Byblos Bank 11,230 3 36 572 BankMed 9,546 4 43 631 Lebanon Fransabank 8,389 5 46 674 Banque Libano-Francaise 6,414 6 52 755 Bank of Beirut 5,737 7 57 791 Credit Libanais 3,776 8 74 907 Libya Libyan Arab Foreign Bank 18,014 1 25 432 Attijariwafabank 27,475 1 18 335 Groupe Banques Populaire 20,668 2 23 405 Banque Marocaine du 13,892 3 34 508 Commerce Extérieur Morocco Société Générale 5,126 4 60 FB Marocaine de Banques Banque Marocaine pour le 5,034 5 62 FB Commerce et l'Industrie Crédit du Maroc 4,725 6 64 FB Bank Muscat 10,969 1 37 581 Oman National Bank of Oman 3,840 2 72 902 Oman International Bank 2,648 3 83 955 Qatar National Bank 41,751 1 9 252 Commercial Bank of Qatar 16,841 2 28 454 Doha Bank 10,715 3 40 596 Qatar Qatar Islamic Bank 9,215 4 44 645 International Bank of 6,157 5 54 768 Qatar Ahli Bank 4,890 6 63 842 National Commercial 59,147 1 2 194 Bank Samba Financial Group 47,704 2 3 225 Al Rajhi Bank 43,981 3 6 242 Riyad Bank 42,574 4 8 248 Banque Saudi Fransi 33,564 5 13 289 Saudi Arabia Arab National Bank 32,349 6 14 301 Saudi British Bank 15,110 7 31 281 Saudi Investment Bank 14,292 8 32 498 Saudi Hollandi Bank 13,443 9 35 520 Bank Al-Jazira 5,750 10 56 789 Bank Albilad 4,280 11 66 875 Syria Commercial Bank of Syria 16,569 1 29 464 Société Tunisienne de Tunisia 4,180 1 68 882 Banque

3 Banque Internationale 3,961 2 69 892 Arabe de Tunisie Banque Nationale Agricole 3,857 3 71 901 Banque de Tunisie 1,692 4 86 983 Emirates NBD 76,900 1 1 159 National Bank of Abu 44,536 2 5 240 Dhabi Abu Dhabi Commercial 40,225 3 10 259 Bank First Gulf Bank 29,278 4 15 323 Mashreqbank 25,390 5 19 356 Dubai Islamic Bank 23,153 6 22 375 Union National Bank 17,760 7 27 439 Commercial Bank of 9,737 8 42 623 Dubai UAE Dubai Bank 5,036 9 61 839 Bank of Sharjah 4,308 10 65 872 Sharjah Islamic Bank 4,230 11 67 878 Rakbank 3,791 12 73 906 Arab Bank for Investment 3,744 13 75 910 & Foreign Trade National Bank of Umm 3,688 14 76 913 Al-Qaiwain National Bank of Fujairah 3,494 15 77 925 Invest bank 2,489 16 84 964 United Arab Bank 2,059 17 85 973 Notes: FB = foreign bank; foreign banks are not ranked.

3. The capitalization of top Arab banks

The first Arab bank in terms of capitalization is the National Commercial Banks (Saudi Arabia) with a Tier 1 capital of $6.68 billion, and the last bank is Credit Agricol Egypt ($253 million). The highest increase in Tier 1 capital was recorded at the Bank of Sharjah (96.7%) and the highest drop was recorded at the Gulf International Bank (Bahrain) with a decrease of 68.7%. We also notice that 14 banks have had a decrease in their capital. The first Arab bank in terms of capital-to-asset ratio (CAR) is the Khaleeji Commercial Bank (Bahrain) with a CAR of 49.11% and the last is the National bank of Egypt (3.22%). The highest improvement in capitalisation was recorded at Awal Bank (Bahrain) with an increase of CAR of 86.94% and the worst decrease in CAR was recorded at Shamil Bank of Bahrain (-50.75%). An interesting remark is that 48 banks have recorded a drop in their CAR between 2007 and 2008. The first bank in terms of BIS ratio is Bank Al-Jazira (Saudi Arabia) with a ratio of 33.51%, and the last is Banque Marocaine du Commerce Extérieur, with a ratio of 8.68%. Table 3 shows the Tier 1 capital, the ranking of top 88 Arab banks according to Tier 1 capital, the change in Tier 1 capital from previous year, the 2008 capital-to-asset ratio, the 2007 capital-to-asset ratio, the change in capital-to-asset ratio, and the BIS ratio.

4 Table 3: the capitalization of top 89 Arab banks Tier1 Rank Tier 1 CAR CAR CAR Country Bank BIS ($ million) (Arab) Change % 2008 2007 change % Algeria Crédit populaire d'Algérie 602 55 8.3 7.53 8.11 -7.15 na Arab Banking Corporation 2,509 18 10.6 8.81 6.93 27.13 16.2 Gulf International Bank 1,985 23 -68.7 7.93 7.95 -0.25 17.3 Ahli United Bank 1,681 25 9.9 7.13 6.64 7.38 13.8 Albaraka Banking Group 1,494 30 2.6 13.68 14.41 -5.07 22.79 Awal Bank 2,702 16 65.2 35.35 18.91 86.94 na Bahrain Bank of Bahrain and Kuwait 549 57 66.5 9.53 7.32 30.19 20.06 National Bank of Bahrain 578 56 14.2 10.69 10 6.90 19.3 Shamil Bank of Bahrain 320 79 -16.2 11.11 22.56 -50.75 18.8 United Gulf Bank 549 58 -19.8 16.01 21.46 -25.40 17.17 Al Salam Bank 287 84 -14.8 19.48 31.88 -38.90 24.7 Khaleeji Commercial Bank 352 74 na 49.11 na na na National Bank of Egypt 1,205 38 2.2 3.22 3.46 -6.94 na Banque Misr 1,018 43 9.30 3.53 3.83 -7.83 na Commercial International Bank(Egypt) 950 45 84.9 9.13 5.9 54.75 22.19 National Société Générale Bank 615 54 77.5 7.33 4.02 82.34 na Egypt Arab African International Bank 472 66 32.7 6.13 4.44 38.06 14.83 HSBC Bank Egypt 420 70 41.6 6.77 5.93 14.17 12.85 Bank of Alexandria 350 76 19.4 6.11 4.44 37.61 na Credit Agricole Egypt 253 89 na 6.45 6.45 0.00 20.67 Arab Bank 4,638 7 -4.7 10.16 12.69 -19.94 16.22 The Housing Bank forTrade and Finance 1,117 40 8.8 14.59 17.78 -17.94 23.16 Jordan Jordan Kuwait Bank 314 81 12.9 10.81 9.79 10.42 14.99 Union Bank 275 86 -0.9 17.18 18.4 -6.63 23.23 National Bank of Kuwait 4,304 9 -2.1 9.92 10.4 -4.62 15.3 Kuwait Finance House 5,482 4 15.6 14.35 14.71 -2.45 22 Kuwait Commercial Bank of Kuwait 1,475 31 11.3 9.45 8.44 11.97 15.54 Bourgan Bank 896 47 -11.8 6.32 9.74 -35.11 13.77

5 Al Ahli Bank of Kuwait 913 46 na 8.42 8.42 0.00 13.95 Bank of Kuwait & the Middle East 730 52 11.8 9 7.96 13.07 14.8 Kuwait International Bank 447 67 na 12.87 12.87 0.00 17.19 Boubyan Bank 506 61 22.3 18.5 23.69 -21.91 28 Audi Saradar Group 1,310 34 7.1 7.32 7.43 -1.48 29 Blom Bank 1,552 28 na 9.03 9.03 0.00 20.01 Byblos Bank 1,070 42 40.4 9.53 8.04 18.53 22.38 BankMed 476 65 12 4.99 7.28 -31.46 14.8 Lebanon Fransabank 481 64 3.1 5.74 6.46 -11.15 26.72 Banque Libano-Francaise 492 63 6 7.67 7.73 -0.78 16.44 Bank of Beirut 509 60 22.2 8.88 7.94 11.84 na Credit Libanais 306 83 12.7 8.11 7.89 2.79 31.63 Libya Libyan Arab Foreign Bank 1,389 32 na 7.71 na Na na Attijariwafabank 2,354 20 81.3 8.57 6.6 29.85 na Groupe Banques Populaire 1,589 27 na 7.69 7.69 0.00 na Banque Marocaine du Commerce Extérieur 749 50 na 5.39 5.39 0.00 8.68 Morocco Société Générale Marocaine de Banques 367 72 na 7.17 7.17 0.00 na Banque Marocaine pour le Commerce et 333 77 na 6.62 6.62 0.00 na l'Industrie Crédit du Maroc 264 88 -0.7 5.59 6.3 -11.27 na Bank Muscat 1,319 33 na 12.02 12.02 0.00 15.14 Oman National Bank of Oman 515 59 na 13.41 13.41 0.00 15.66 Oman International Bank 318 80 -2.3 12.02 13.62 -11.75 14.08 Qatar National Bank 3,618 12 24.3 8.67 9.27 -6.47 13.9 Commercial Bank of Qatar 2,649 17 87.8 15.73 11.31 39.08 15.66 Doha Bank 1,170 39 52.9 10.92 9.26 17.93 13.48 Qatar Qatar Islamic Bank 1,509 29 28.3 16.37 20.05 -18.35 17.04 International Bank of Qatar 620 53 84.5 10.07 18.26 -44.85 12.51 Ahli Bank 310 82 20.7 6.34 9.78 -35.17 12.01 Saudi National Commercial Bank 6,680 1 -15.4 11.29 14.19 -20.44 16.6 Arabia Samba Financial Group 5,342 6 11.7 11.2 11.62 -3.61 14.1

6 Al Rajhi Bank 5,458 5 -13.3 12.41 18.9 -34.34 21.39 Riyad Bank 6,147 2 74.8 14.44 10.87 32.84 16.1 Banque Saudi Fransi 3,617 13 20.7 10.78 11.26 -4.26 11.55 Arab National Bank 3,172 14 13 9.81 11.14 -11.94 14.14 Saudi British Bank 2,306 21 -15.6 6.57 10.43 -37.01 11.24 Saudi Investment Bank 1,666 26 -7.7 11.66 14.55 -19.86 13.71 Saudi Hollandi Bank 1,212 37 6.7 9.02 9.11 -0.99 15 Bank Al-Jazira 1,251 35 na 21.75 21.75 0.00 33.51 Bank Albilad 823 48 2 19.24 26.8 -28.21 24.19 Syria Commercial Bank of Syria 1,834 24 4.7 11.07 10.67 3.75 na Société Tunisienne de Banque 351 75 11.7 8.39 10.69 -21.52 na Banque Internationale Arabe de Tunisie 330 78 na 8.32 8.32 0.00 13.92 Tunisia Banque Nationale Agricole 274 87 1.6 7.1 7.78 -8.74 na Banque de Tunisie 277 85 na 16.38 na Na 19.87 Emirates NBD 5,550 3 14.9 7.22 6.99 3.29 11.4 National Bank of Abu Dhabi 4,081 10 33.4 9.16 8.06 13.65 15.39 Abu Dhabi Commercial Bank 3,777 11 20.5 9.39 10.83 -13.30 11.59 First Gulf Bank 4,390 8 67.1 14.99 13.18 13.73 14.1 Mashreqbank 3,117 15 16.5 12.28 11.21 9.55 14.08 Dubai Islamic Bank 2,425 19 5.7 10.47 10.06 4.08 12 Union National Bank 2,024 22 23.3 11.4 14.51 -21.43 11.8 Commercial Bank of Dubai 1,218 36 48.3 12.51 16.12 -22.39 13.02 UAE Dubai Bank 503 62 12.9 9.98 14.99 -33.42 na Bank of Sharjah 956 44 96.7 22.18 23.4 -5.21 na Sharjah Islamic Bank 1,082 41 91.1 25.57 27.2 -5.99 na Rakbank 393 71 24.2 10.36 10.59 -2.17 12.3 Arab Bank for Investment & Foreign Trade 744 51 69.5 19.87 23.28 -14.65 na National Bank of Umm Al-Qaiwain 764 49 63 20.73 20.76 -0.14 18.5 National Bank of Fujairah 446 68 35.4 12.76 19.26 -33.75 na Invest bank 427 69 14.1 17.16 20.61 -16.74 17.73 United Arab Bank 358 73 37.1 17.41 20.05 -13.17 na

7 4. The profitability of top Arab banks

The first Arab bank in terms of (pre-tax) profits is Al Rajhi Bank (Saudi Arabi) with profits of $1.74 billion, and the worst is the Arab Banking Corporation (Bahrain) with losses of $844 million. The first bank in terms of increase in profits is BankMed (Lebanon) with an increase of 303.5%, and the worst drop was also recorded at the Arab Banking Corporation with a decrease of 553.8%. Besides, 27 banks have recorded a drop in pre-tax profits in 2008. The highest ROE was recorded at HSBC Bank Egypt (66.76%) and the lowest ROE was recoreded again at the Arab Banking Corporation, which was -35.34%. BankMed (Lebon) has the highest increase in ROE (282.89%) and the worst decrease was recorded at the Arab Banking Corporation (-497.08%). Also regarding the change in ROE, 57 banks have witnesses a drop in ROE. The highest ROA was recorded at the Khaleeji Commercial Bank (Bahrain) with a ratio of 7.73% and the lowest at the Arab Banking Corporation (-2.96%). Table 4 shows the pretax profits of the top 88 Arab banks, the rank of the top 88 Arab banks according to pretax profits, the change in pretax profits from previous year, the 2008 ROE, the 2007 ROE, and the change in ROE, and the ROA.

8 Table 4: the profitability of top 89 Arab banks pretax profit Rank pretax profits ROE ROE ROE ROA Country Bank ($ million) (pretax profit) change % 2008 2007 change 2008 Algeria Crédit populaire d'Algérie 69 67 -54.2 11.87 -61.08 -61.08 0.86 Arab Banking Corporation (844) 87 -553.8 -35.34 -497.08 -497.08 -2.96 Gulf International Bank (387) 86 na -9.3 -74.52 -74.52 -1.55 Ahli United Bank 256 32 -31.2 15.95 -41.14 -41.14 1.09 Albaraka Banking Group 265 30 8.2 17.97 Na na 2.43 Awal Bank (20) 85 -107.1 -0.91 -104.44 -104.44 -0.26 Bahrain Bank of Bahrain and Kuwait 73 65 -16.6 16.55 -39.60 -39.60 1.26 National Bank of Bahrain 92 55 -16.4 17.04 -25.59 -25.59 1.71 Shamil Bank of Bahrain 22 81 -65.2 6.33 -62.98 -62.98 0.77 United Gulf Bank na na na na na na na Al Salam Bank 68 70 -10.3 21.76 23.64 23.64 4.61 Khaleeji Commercial Bank 55 75 na na na na 7.73 National Bank of Egypt 82 60 -7.2 6.9 -8.00 -8.00 0.22 Banque Misr 29 79 8.68 2.86 2.87 -0.35 0.10 Commercial International 338 24 27.2 46.2 -6.67 -6.67 3.25 Bank(Egypt) National Société Générale 236 36 101.1 49.15 9.71 9.71 2.82 Egypt Bank Arab African International 167 42 27.5 40.36 -5.48 -5.48 2.17 Bank HSBC Bank Egypt 239 35 39.4 66.76 4.31 4.31 3.85 Bank of Alexandria 75 64 na 23.23 na na 1.31 Credit Agricole Egypt 96 52 na 37.8 0.80 0.80 2.44 Arab Bank 1,061 4 10.1 22.33 6.84 6.84 2.33 The Housing Bank forTrade 200 40 9.2 18.68 -25.28 -25.28 2.62 Jordan and Finance Jordan Kuwait Bank 96 53 6.8 32.35 -2.56 -2.56 3.3 Union Bank 30 78 9.3 10.8 -19.40 -19.40 1.86

9 National Bank of Kuwait 975 7 -7.4 22.41 -18.21 -18.21 2.25 Kuwait Finance House 1,438 2 18.3 28.14 -13.15 -13.15 3.77 Commercial Bank of Kuwait 382 22 -16.4 27.3 -23.31 -23.31 2.45 Bourgan Bank 154 43 -45.3 16.11 -51.03 -51.03 1.09 Kuwait Al Ahli Bank of Kuwait 289 28 na 31.64 -5.83 -5.83 2.66 Bank of Kuwait & the 202 39 -2.9 29.24 -12.46 -12.46 2.49 Middle East Kuwait International Bank 66 71 na 14.75 3.15 3.15 1.9 Boubyan Bank 68 68 91.3 14.85 63.19 63.19 2.5 Audi Saradar Group 304 26 25.4 24.02 17.75 17.75 1.7 Blom Bank 242 34 na 15.6 -0.64 -0.64 1.41 Byblos Bank 147 44 20 16.09 -10.61 -10.61 1.31 BankMed 78 62 303.5 17.23 282.89 282.89 0.81 Lebanon Fransabank 110 50 53.6 23.13 41.90 41.90 1.31 Banque Libano-Francaise 86 56 28.3 18 na na 1.34 Bank of Beirut 83 59 34.8 17.84 1.36 1.36 1.44 Credit Libanais 35 76 13.4 12.2 -12.86 -12.86 0.93 Libya Libyan Arab Foreign Bank 306 25 na na na na 1.7 Attijariwafabank 508 16 39.1 27.79 -13.16 -13.16 1.85 Groupe Banques Populaire 474 18 na 29.85 -8.44 -8.44 2.3 Banque Marocaine du 278 29 na 37.17 4.70 4.70 2 Commerce Extérieur Morocco Société Générale Marocaine 95 54 na 25.9 -9.76 -9.76 1.86 de Banques Banque Marocaine pour le 100 51 na 29.88 -6.33 -6.33 1.98 Commerce et l'Industrie Crédit du Maroc 72 66 -0.2 27.05 -4.42 -4.42 1.52 Bank Muscat 254 33 na 19.27 -21.98 -21.98 2.32 Oman National Bank of Oman 131 46 na 25.46 -4.29 -4.29 3.41 Oman International Bank 86 57 12.2 26.82 8.58 8.58 3.26 Qatar Qatar National Bank 1,009 5 45.4 30.9 5.10 5.10 2.42

10 Commercial Bank of Qatar 411 20 7.5 20.24 -30.21 -30.21 2.44 Doha Bank 260 31 2.2 26.88 -23.64 -23.64 2.43 Qatar Islamic Bank 575 14 25.7 42.83 -2.44 -2.44 6.24 International Bank of Qatar 84 58 101.9 17.57 19.52 19.52 1.36 Ahli Bank 117 48 107 41.3 65.86 65.86 2.39 National Commercial Bank 562 15 -65.1 7.71 -65.73 -65.73 0.95 Samba Financial Group 1,188 3 -7.8 23.46 -19.38 -19.38 2.49 Al Rajhi Bank 1,740 1 1.2 29.61 0.37 0.37 3.96 Riyad Bank 703 12 -12.4 14.56 -39.08 -39.08 1.65 Banque Saudi Fransi 748 11 3.4 22.61 -14.03 -14.03 2.23 Saudi Arabia Arab National Bank 665 13 1.3 22.24 -16.39 -16.39 2.06 Saudi British Bank 779 10 12 30.92 16.68 16.68 2.22 Saudi Investment Bank 141 45 -35.5 8.14 -36.90 -36.90 0.99 Saudi Hollandi Bank 117 47 -54 9.96 -58.50 -58.50 0.87 Bank Al-Jazira 214 37 na 17.1 -5.52 -5.52 3.72 Bank Albilad 33 77 -29.9 4.09 -31.83 -31.83 0.78 Syria Commercial Bank of Syria 303 27 -61.2 16.89 -77.63 -77.63 1.83 Société Tunisienne de na na na na na na na Banque Banque Internationale Arabe Tunisia 24 80 na 7.22 -5.00 -5.00 0.6 de Tunisie Banque Nationale Agricole 21 82 na 7.9 na na 0.56 Banque de Tunisie 64 72 na na na na 3.76 Emirates NBD 1,002 6 32.8 19.32 na na 1.3 National Bank of Abu Dhabi 842 8 20.3 23.57 -6.10 -6.10 1.89 Abu Dhabi Commercial 377 23 -33.6 10.92 -41.91 -41.91 0.94 Bank UAE First Gulf Bank 818 9 49.7 23.32 2.73 2.73 2.8 Mashreqbank 476 17 -18 16.43 -32.39 -32.39 1.87 Dubai Islamic Bank 471 19 -30.8 19.95 -31.21 -31.21 2.03 Union National Bank 395 21 43.6 21.54 20.34 20.34 2.22

11 Commercial Bank of Dubai 210 38 28.3 20.61 -14.83 -14.83 2.16 Dubai Bank 62 74 7.2 12.98 -30.22 -30.22 1.22 Bank of Sharjah 112 49 28.3 15.51 -15.25 -15.25 2.6 Sharjah Islamic Bank 63 73 15.4 7.65 -21.13 -21.13 1.49 Rakbank 173 41 58.5 48.83 46.64 46.64 4.57 Arab Bank for Investment & 80 61 40.4 13.6 -2.86 -2.86 2.15 Foreign Trade National Bank of Umm Al- 77 63 -15 12.52 -41.22 -41.22 2.09 Qaiwain National Bank of Fujairah (14) 84 -128.6 -3.53 -120.76 -120.76 -0.39 Invest bank 1 83 -97.3 0.32 -97.59 -97.59 0.05 United Arab Bank 68 69 58.2 21.98 22.79 22.79 3.31

Union of Arab Banks – Research Department Email: [email protected] Phone: 00961 1 785711