FirstBank tracks the 10 largest Gulf banks by deposits at end-June 2026

H1 2026 results point to a shift in the competitive dynamics among Gulf banks. While the same 10 banks remained in the ranking, differences in customer deposit growth reshuffled several positions, changing the order within the group without altering its composition.

The movements suggest that maintaining a leading position now depends not only on the size of a bank’s deposit base, but also on how quickly it grows relative to competitors.

With deposit balances relatively close across several of the top 10 banks, differences in growth rates became the main factor reshaping the ranking during H1 2026.

Against this backdrop, FirstBank tracks the 10 largest Gulf banks by customer deposits at end-June 2026, analysing changes in their positions and deposit balances compared with end-2025.

Qatar National Bank retained the top spot after customer deposits rose 2.1 per cent to USD 267.02 billion at end-June 2026 from USD 261.40 billion at end-2025, maintaining the largest deposit base among Gulf banks.

Emirates NBD climbed two places to second, supported by the fastest customer deposit growth among the top 10 banks. Deposits rose 13.5 per cent to USD 242.89 billion at end-June 2026 from USD 214.01 billion at end-2025, enabling the bank to overtake First Abu Dhabi Bank (FAB).

FAB, meanwhile, slipped to third despite customer deposits rising to USD 232.25 billion at end-June 2026 from USD 228.92 billion at end-2025. Its 1.5 per cent growth rate was the slowest among the top 10 and was not enough to retain second place.

Saudi National Bank (SNB) rose to fourth from fifth, supported by a 9.6 per cent increase in customer deposits to USD 185.82 billion at end-June 2026 from USD 169.59 billion at end-2025.

Al Rajhi Bank, by contrast, fell to fifth despite customer deposits rising 3 per cent to USD 183.21 billion at end-June 2026 from USD 177.91 billion at end-2025. The increase was not enough to preserve its previous position given the stronger growth recorded by SNB.

Abu Dhabi Commercial Bank (ADCB) retained sixth place after customer deposits rose 5.4 per cent to USD 143.39 billion at end-June 2026 from USD 136.07 billion at end-2025.

Riyad Bank also held seventh place, with customer deposits increasing 4.8 per cent to USD 92.69 billion at end-June 2026 from USD 88.44 billion at end-2025.

Saudi Awwal Bank (SAB) climbed to eighth from ninth after customer deposits rose 5.7 per cent to USD 91.07 billion at end-June 2026 from USD 86.19 billion at end-2025, allowing it to move ahead of Dubai Islamic Bank (DIB).

DIB slipped to ninth despite customer deposits rising 2.1 per cent to USD 89.03 billion at end-June 2026 from USD 87.18 billion at end-2025. The pace of growth was not enough to maintain its previous position.

National Bank of Kuwait (NBK) rounded out the ranking, retaining 10th place after customer deposits rose 3.6 per cent to USD 87.74 billion at end-June 2026 from USD 84.65 billion at end-2025.

The results show that competition among the largest Gulf banks is increasingly being shaped by the pace of deposit growth rather than deposit size alone.

With the top 10 unchanged, differences in growth rates became the main driver of shifts in ranking, underscoring that maintaining a leading position depends not only on the scale of the deposit base but also on the ability to expand it faster than competitors