First Bank ranks MENA’s 100 most profitable banks in Q1 2026
First Bank’s ranking of the 100 most profitable banks in the Middle East and North Africa (MENA), based on first-quarter 2026 results, revealed a notable reshuffling among the leading positions.
Faster earnings growth at several banks altered the composition of the top 10 compared with March 2025 data.
Al Rajhi Bank reshaped the top of the ranking, climbing to first place from third according to March 2025 data, supported by a 14.4 per cent increase in net profit to USD 1.80bn in the first quarter of 2026, from USD 1.58bn in the corresponding period of 2025.
Emirates NBD slipped one place to second, as net profit growth remained comparatively modest at 3.1 per cent year on year, reaching around USD 1.75bn in the first quarter of 2026, compared with USD 1.69bn a year earlier.
Saudi National Bank (SNB) also moved down one place to third, despite maintaining its upward profit trajectory. Net profit rose to USD 1.71bn in the first quarter of 2026, from USD 1.60bn in the corresponding period of 2025, representing year-on-year growth of 7.4 per cent.
Despite the changes across the top three positions, banks ranked fourth through seventh retained their places, with First Abu Dhabi Bank (FAB) holding fourth position despite a roughly 2 per cent decline in profit to USD 1.37bn in the first three months of 2026, from USD 1.40bn in the same period of 2025.
QNB Group also retained fifth place, recording net profit of around USD 1.21bn in the first three months of 2026, compared with USD 1.19bn in the same period of 2025, representing year-on-year growth of 1.7 per cent.
In sixth place, Ziraat Bankası maintained its position among the leading banks by profit, despite recording strong net profit growth of around 19.1 per cent year on year to approximately USD 1.15bn in the first quarter of 2026, from USD 964mn in the same period of 2025.
Abu Dhabi Commercial Bank (ADCB) strengthened its position in seventh place, recording the strongest growth rate among the top 10 banks.
ADCB's profit surged 37.4 per cent to USD 915mn in the first quarter of 2026, from USD 666mn a year earlier, underscoring the strength of its profitability relative to its peers at the top of the ranking.
Among the final three positions in the top 10, Kuwait Finance House (KFH) climbed to eighth place, from ninth according to March 2025 data, supported by a 16.1 per cent year-on-year increase in profit to USD 714mn in the first quarter of 2026, compared with USD 615mn in the corresponding period of 2025.
By contrast, Riyad Bank slipped one place to ninth despite continued profit growth, with profit rising around 5.1 per cent year on year to USD 696mn in the first quarter of 2026, compared with around USD 663mn in the same period of 2025.
Türkiye İş Bankası completed the top 10 after recording the largest jump in the ranking, climbing to 10th place from 16th according to March 2025 data, supported by a 25.9 per cent year-on-year increase in profit to USD 577mn in the first quarter of 2026, from USD 459mn in the same period of 2025.
The data showed that the top 10 banks accounted for around 52 per cent of the profits generated by all banks included in the ranking.
Their combined net profit reached around USD 11.89bn in the first quarter of 2026, compared with USD 10.94bn in the corresponding period of 2025, representing growth of 8.71 per cent.
The ranking is based on banks’ reported net profits for the first quarter of 2026, converted into US dollars to ensure a consistent basis of comparison across institutions.
Banks without officially disclosed data were excluded to preserve the accuracy and reliability of the methodology. The ranking covers parent banking groups across the Middle East and North Africa (MENA), while excluding their overseas branches.
