First Index: Large Banking Groups vs. Multiple Banking Brands – How Did UAE and Saudi Banks Appear in the Top 100 Arab Banks Ranking?

The First Bank Top 100 Arab Banks ranking highlights a striking contrast in the structure of the Arab banking sector: 10 Saudi banks have built a banking presence that nearly matches that of 18 UAE banks, underscoring significant differences in market structure and the distribution of assets among leading financial institutions.

By the end of Q1 2026, the combined assets of the 10 Saudi banks included in the ranking reached approximately 1.26 USD trillion, compared with 1.46 USD trillion for 18 UAE banks, a difference of only 200.92 USD bn.

This comparison shows that the number of banks is not necessarily an accurate measure of a country's banking strength. Saudi banks have successfully concentrated a massive asset base within a relatively small number of large institutions, supported by the size of the Saudi economy, the depth of its domestic market, strong demand for financing, and the leading role major banks play in funding large-scale investment and development projects across the Kingdom.

The comparison becomes even more compelling when measured on a per-bank basis. The average Saudi bank included in the ranking held approximately 126 USD bn in assets, compared with 81 USD bn for the average UAE bank. This means the average Saudi bank is around 56% larger than its UAE counterpart.

Such concentration gives Saudi banks greater capacity to maintain strong positions in both regional and international banking rankings.

Most of the sector's assets are concentrated within a limited number of large institutions with substantial balance sheets, unlike the UAE banking market, where representation is spread across a larger number of banks. This difference, however, does not indicate the superiority of one model over the other, but rather reflects the distinct characteristics of the two banking markets.

Saudi Riyal Stability Preserves the Dollar Value of Assets

The stability of the Saudi riyal, which remains pegged to the U.S. dollar at SAR 3.75 per USD, has provided Saudi banks with a significant advantage when converting their financial statements into U.S. dollars. It has minimized the impact of exchange-rate fluctuations on their balance sheets and helped preserve the dollar value of their assets, particularly when compared with banks operating in markets whose currencies experienced volatility or depreciation against the dollar.

As a result, Saudi banks maintained strong positions in the First Bank Top 100 Arab Banks ranking at the end of Q1 2026, with all 10 Saudi banks placing within the top 30.

Saudi National Bank ranked as the Kingdom's largest bank with total assets of 327.34 USD bn, securing 4th place in the ranking.

Al Rajhi Bank followed in 5th place, with total assets reaching 280.11 USD bn by the end of Q1 2026.

Riyad Bank ranked 9th with assets of approximately 143.11 USD bn, while Saudi Awwal Bank secured 11th place with assets totaling 122.50 USD bn.

Meanwhile, Banque Saudi Fransi ranked 14th with assets of 86.55 USD bn, followed closely by Alinma Bank in 15th place with assets of 86.41 USD bn.

Arab National Bank ranked 20th, reporting assets of 75.91 USD bn, while The Saudi Investment Bank came in 25th with assets exceeding 48 USD bn.

Bank Albilad secured 27th place with assets of approximately 47.95 USD bn, while Bank Aljazira ranked 30th, reporting total assets of 46.13 USD bn by the end of Q1 2026.

The ranking confirms that Saudi Arabia's banking strength is driven less by the number of banks and more by the scale of its leading institutions.

With assets concentrated in a relatively small number of major banks, supported by a large domestic market and the stability of the Saudi riyal against the U.S. dollar, Saudi banks have maintained a strong and competitive position in the regional ranking, demonstrating that banking strength is measured not by the number of institutions, but by the size and influence of those behind the market.