First Bank ranks MENA’s 100 largest banks at end-June 2026

QNB overtakes First Abu Dhabi Bank to lead the ranking, with a gap exceeding USD11bn

Emirates NBD records the fastest asset growth among the top 10 banks

Riyad Bank enters the top 10, replacing Kuwait Finance House

UAE and Saudi banks secure six places among the top 10

First Bank’s ranking of the 100 largest banks in the Middle East and North Africa (MENA) at end-June 2026 revealed notable shifts in the regional banking landscape.

Several positions within the top 10 changed, with one bank entering the group and another dropping out, reflecting differences in asset growth rates during the first half of 2026.

Six banks changed their positions compared to the end of 2025, while only three banks maintained their rankings unchanged.

The top of the ranking witnessed one of the most notable shifts during H1 2026, as Qatar National Bank (QNB) advanced to first place among the largest banks in the MENA region, compared to second place at the end of 2025, overtaking First Abu Dhabi Bank (FAB), which slipped to second place.

QNB’s rise was driven by a 3.7 per cent increase in its assets during H1 2026, reaching USD394.72bn at the end of June, compared to USD380.67bn at the end of 2025.

Meanwhile, FAB recorded modest asset growth of approximately 0.3 per cent during the same period, with its assets reaching USD383.57bn at the end of June, compared to USD382.23bn at the end of 2025.

The changes were not limited to the top position, as Emirates NBD secured third place at the end of June 2026, advancing one position at the expense of Saudi National Bank (SNB), which slipped to fourth place.

This shift came as Emirates NBD recorded the fastest asset growth rate among the top 10 banks, with an increase of approximately 13.6 per cent during H1 2026, bringing its assets to USD360.08bn at the end of June, compared to USD317.04bn at the end of 2025.

Meanwhile, Saudi National Bank’s assets increased by approximately 2.7 per cent during the same period, reaching USD331.28bn at the end of June 2026, compared to USD322.61bn at the end of 2025.

This difference in growth rates resulted in a significant shift in the gap between the two banks. While Saudi National Bank had led Emirates NBD by approximately USD5.56bn at the end of 2025, the UAE lender moved ahead by USD28.80bn at the end of June 2026.

This shift highlights Emirates NBD’s ability to strengthen its position among the region’s largest banking institutions within a relatively short period, after recording the largest absolute increase in assets among the top 10 banks.

Meanwhile, Al Rajhi Bank retained fifth place, with its assets increasing by approximately 0.9 per cent during H1 2026 to reach USD280.73bn at the end of June, compared to USD278.15bn at the end of 2025.

Abu Dhabi Commercial Bank (ADCB) advanced to sixth place at the end of June 2026, compared to seventh place at the end of 2025, overtaking Türkiye’s Ziraat Bankası, which slipped one position to seventh place.

ADCB’s rise was supported by a 7.7 per cent increase in its assets during H1 2026, reaching USD226.86bn at the end of June, compared to USD210.64bn at the end of 2025.

On the other hand, Ziraat Bankası’s assets edged down by approximately 0.1 per cent, reaching USD216.48bn at the end of June, compared to USD216.66bn at the end of 2025.

Meanwhile, the National Bank of Egypt (NBE) maintained eighth place, with assets of approximately USD208.48bn at the end of June 2026.

National Bank of Kuwait (NBK) also retained ninth place, as its assets increased by approximately 1.4 per cent during H1 2026, reaching USD150.16bn at the end of June, compared to USD148.14bn at the end of 2025.

The most notable change in terms of membership among the top 10 banks was Riyad Bank’s entry into the list, advancing from 11th place at the end of 2025 to 10th place at the end of June 2026, at the expense of Kuwait Finance House (KFH), which slipped one position to 11th place.

Riyad Bank’s advancement came as its assets increased by approximately 2.6 per cent during H1 2026, reaching USD142.03bn at the end of June, compared to USD138.50bn at the end of 2025.

Meanwhile, Kuwait Finance House’s assets declined by approximately 1.3 per cent during the same period, falling to USD137.11bn at the end of June, compared to USD138.88bn at the end of 2025.

A comparison between the two banks reveals a notable shift in competition for the final position in the top 10.

While Kuwait Finance House had led Riyad Bank by a narrow margin of approximately USD376.85mn at the end of 2025, the Saudi lender moved ahead by approximately USD4.92bn at the end of June 2026.

The ranking is based on banks’ reported asset values as of the end of June 2026, converted into US dollars, providing a standardised basis for comparison among different banking institutions.

Asset figures for some banks were estimated based on historical data trends and future projections, due to the unavailability of officially reported actual figures for the ranking period.