Arab banking leadership race tightens as FAB closes in on QNB
The race for Arab banking leadership is entering a new chapter of intense competition between Qatar National Bank (QNB) and First Abu Dhabi Bank (FAB), as their 3Q-2026 results revealed a narrowing gap in total assets.
The latest financial results showed that QNB’s consolidated total assets rose to USD401.76bn at end-September 2026, compared to USD394.72bn at end-June, recording quarterly growth of 1.78 per cent and an increase of USD7.04bn.
Meanwhile, FAB recorded faster quarterly growth, with its assets surging by 4.49 per cent during 3Q-2026 to reach USD400.78bn at end-September, compared to USD383.57bn at end-June, marking an increase of USD17.21bn.
Accordingly, FAB’s asset growth exceeded QNB’s by approximately USD10.17bn in just three months, narrowing the gap between the two banking groups from USD11.15bn at end-June to just USD982.81mn at end-September 2026.
The competition between QNB and FAB is not new, as the Qatari bank maintained its position as the Arab world’s largest bank for years, before the UAE-based group managed to end its dominance at end-2025.
At end-December 2025, FAB claimed the top position with total assets of USD382.23bn, surpassing Qatar National Bank, whose assets reached USD380.67bn, with a difference of approximately USD1.56bn.
The UAE-based bank not only maintained its lead at end-March 2026 but also widened the gap considerably, as its assets increased to USD405.78bn, compared to USD386.91bn for its Qatari competitor, expanding the lead to USD18.87bn.
However, 2Q-2026 witnessed a shift in the competitive landscape, as QNB regained the top position at end-June, supported by an increase in assets to USD394.72bn, while FAB’s assets declined to USD383.57bn.
This reversed the ranking gap in favour of the Qatari group, which moved ahead by USD11.15bn, highlighting the impact of differences in quarterly asset growth on the relative positions of the two banking giants.
The shift reflects the sensitivity of the rankings of the Arab world’s two largest banking institutions to differences in quarterly growth rates, with leadership changing hands and the gap repeatedly shifting direction within a relatively short period.
Can FAB reclaim the top position by end-2026?
September 2026 results have placed the UAE-based group in a strong position to reclaim the Arab banking sector’s top spot by year-end, particularly as the gap separating it from Qatar National Bank has narrowed to less than USD1bn.
If FAB continues to record quarterly asset growth exceeding that of QNB, it could regain the leading position once again, potentially reversing the ranking established during the second quarter of this year.
However, previous financial results demonstrate that maintaining the same growth pace is not guaranteed, particularly given the significant changes in the banks’ rankings since the beginning of 2026, making December results decisive.
Thus, the Arab banking leadership race is entering its closest phase this year, after FAB narrowed a gap of more than USD11bn to less than USD1bn in just three months.
The key question remains whether the UAE banking giant will reclaim its throne for the second time, or whether Qatar National Bank will manage to retain its leading position.
