«FAB» consolidates its regional dominance, while «QNB» faces the challenge of regaining growth momentum to catch up with the lead

First Abu Dhabi Bank «FAB» has experienced a remarkable surge in recent years, reshaping the balance of power within the banking sector across the Middle East and North Africa. This momentum enabled it to overtake Qatar National Bank «QNB», which had maintained its leadership position for many years up to the end of September 2025.

By the end of last year, FAB surpassed QNB by a narrow margin of $1.56 billion, However, this lead widened significantly during the first quarter of 2026, with the gap expanding to approximately $18.87 billion by the end of March—highlighting a clear acceleration in growth dynamics in favor of the UAE-based group.

Over the past three years, FAB has recorded strong expansion in its asset base, rising to $405.78 billion by the end of March 2026, compared to $302.30 billion at the end of 2022. This reflects a compound annual growth rate (CAGR) of 9.5%, underscoring the group’s ability to deliver sustained, rapid growth driven by an effective regional and international expansion strategy.

In contrast, QNB has continued to achieve steady growth, albeit at a slower pace than its UAE counterpart. Its assets increased to $386.91 billion by the end of March 2026, compared to $326.71 billion at the end of 2022, representing a CAGR of 5.3%—indicating a clear gap in growth momentum versus FAB over the same period.

These developments reflect a gradual shift in the power structure within the MENA banking sector, with UAE banks emerging prominently as key players among the top five.

The UAE now holds two positions in this tier  )FAB in first place and Emirates NBD, which recently climbed to third(, reinforcing their regional weight and competitive strength, while also supporting their expansion into strategic markets such as Egypt.

In this context, «First Bank» continues to monitor the evolving dynamics of competition within the banking sector and analyze their potential implications in the period ahead.

Current indicators suggest that if QNB aims to reclaim its leading position, it would need to achieve a compound annual growth rate close to 15% in the coming phase to narrow the gap and match the current growth pace of FAB, assuming the latter maintains its existing performance trajectory.

However, if current trends persist without significant changes in growth rates, the gap between the two groups is expected to widen further, potentially reaching around $36.9 billion by the end of 2026—further solidifying FAB’s leadership in the MENA banking landscape.