The Big Numbers Race: Riyad Bank, KFH compete for a spot among MENA’s top 10

Amid intensifying competition among the Middle East’s largest banks, a new chapter in the Big Numbers Race focuses on Riyad Bank and Kuwait Finance House (KFH) as they compete for a place among the top 10 banks in the Middle East and North Africa (MENA).

According to June 2026 data, Riyad Bank ranks tenth among MENA banks by total assets, while KFH ranks eleventh, reflecting the close competition between the two banks, with the ranking determined by relatively narrow numerical differences.

According to the banks’ consolidated financial statements, Riyad Bank’s total assets stood at USD 142.03 billion at the end of June 2026, compared to USD 137.11 billion for KFH at the same period.

In terms of deposits, Riyad Bank’s customer deposits reached USD 92.69 billion at the end of June 2026, compared to USD 70.13 billion for KFH.

Regarding the loan portfolio, Riyad Bank’s net loans stood at USD 100.51 billion at the end of June 2026, compared to USD 74 billion for KFHouse.

Riyad Bank’s lead is not attributable solely to the current difference in size, but also extends to the pace of growth achieved over the past three years, specifically from the end of 2022 through June 2026.

Riyad Bank recorded cumulative asset growth of 48.4 per cent, compared to 13.4 per cent for KFH over the same period.

This strong performance enabled Riyad Bank to overtake KFiH over the three-year comparison period. However, the competitive landscape between the two banks has not remained stable recently, with the two alternating positions in the rankings. Riyad Bank moved ahead at the end of September 2025, before KFH regained the lead at the end of the same year. Riyad Bank then reclaimed the lead at the end of March 2026 and maintained it through June 2026.

The gap between the two banks reached approximately USD 4.92 billion at the end of June 2026 in favor of Riyad Bank, reflecting the relatively close asset sizes of the two banks and the intensifying competition for leading regional positions.

On the deposits front, Riyad Bank recorded cumulative growth of approximately 45.1 per cent over the past three years, compared to a 4.6 per cent decline for Kuwait Finance House during the same period.

This strong performance enabled Riyad Bank to overtake KFH and widen the gap between the two banks to USD 22.57 billion at the end of June 2026.

In terms of loans, Riyad Bank also maintained its lead in cumulative growth over the same period, with net loans increasing by approximately 55.8 per cent over the past three years, compared to 20.1 per cent for KFH.

This helped widen the gap between the two banks to USD 26.51 billion at the end of June 2026, compared to USD 2.91 billion at the end of 2022.

On the profitability front, Riyad Bank reported net profit of USD 1.40 billion during H1 2026, with a return on average assets (ROAA) of 2 per cent and a return on average equity (ROAE) of 13.50 per cent during the same period.

Meanwhile, KFH reported net profit of USD 1.41 billion during H1 2026, with ROAA of 2.04 per cent and ROAE of 12.74 per cent. This reflects a relatively mixed performance in profitability indicators, with KFH posting a higher return on assets, while Riyad Bank recorded a higher return on equity.

Regarding capital, Riyad Bank’s paid-up capital stood at USD 10.65 billion at the end of June 2026, compared to USD 6.42 billion for KFH at the same period.

The competition between Riyad Bank and KFH therefore remains open to further shifts, despite Riyad Bank’s clear advantage. The relatively narrow gap in total assets keeps the two banks’ positions among the largest banks in the MENA subject to further changes in the coming periods.

Overall, Riyad Bank appears to have the stronger position in the race for tenth place, supported by a clear advantage in the growth rates of assets, deposits, and loans.

However, the close asset sizes of the two banks keep the competition open and make Riyad Bank’s ability to sustain its current growth momentum a decisive factor in consolidating its position among the top 10, while Kuwait Finance House continues to challenge it for the spot.