Middle East's Best Banks

Kuwait International Bank, under its CEO Raed Jawad Bukhamseen, makes a credible case about being an institution that welcomes disruption from the inside out – and is winner of Asiamoney’s best digital bank for Kuwait this year.

Kuwait International Bank, under its CEO Raed Jawad Bukhamseen, makes a credible case about being an institution that welcomes disruption from the inside out – and is winner of Asiamoney’s best digital bank for Kuwait this year.

With more than 27,000 employees and a footprint in 31 countries across continents, there are few questions about the scale and ambition of Qatar’s largest bank. That was further cemented over the last 18 months of global turmoil, when CEO Abdulla Mubarak Al Khalifa’s team proved nothing short of impressive.

You could say Qatar First Bank has a thing for America. In May, QFB said it acquired its seventh real estate investment in the US, part of a strategy to increase its global footprint and exposure to the West.

The country’s first Islamic institution, now in its 39th year, could make a credible run at best Qatari bank. While it might lack the overall scale to dominate the market, QIB continues to impress as it helps to diversify an economy long dependent on a handful of corporate giants. For that, it is Asiamoney’s choice for best bank for SMEs in Qatar for 2021.

Commercial Bank of Qatar’s customers probably barely noticed that all the bank’s branches were shut for a time in 2020: that’s a sign of the lender’s pre-pandemic success in convincing a critical mass to bank digitally.

Two years on, Riyadh’s financial circles are still in a whirl over the Saudi British Bank joining forces with Alawwal Bank. The combination did more than just create the third-largest lender in Saudi Arabia: It raised stress levels across the region.

Saudi National Bank is both a new player on the regional scene and a well-worn veteran. SNB is the result of a recent merger between National Commercial Bank and Samba Financial Group, or Saudi Arabia’s biggest financial institution and a genuine regional powerhouse.

Before the coronavirus pandemic hit the Middle East, Riyad Bank was regarded by many as the go-to lender for SME owners. Earlier this year, though, the Saudi Arabian government essentially made that role official.