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  • Qatar National Bank (QNB)’s scale and banking power in the country seem unassailable across all banking businesses. It dominates activity, reporting more assets ($338 billion), loans ($234 billion), deposits ($235 billion) and net profit at the end of last year than that generated in each segment by all four of the other largest banks combined.
  • Sohar International Bank is Euromoney’s best bank in Oman this year. The landmark merger with HSBC Bank Oman in 2023 has resulted in substantial growth in assets, market share, market presence and workforce.
  • Al Salam Bank enjoyed strong financial performance last year, while expanding its geographic footprint and innovating in the digital space. It is Euromoney’s best bank in Bahrain 2024.
  • Commercial International Bank (CIB) has maintained its position as the bank to beat in Egypt during the review period.
  • Last year was an important one for sustainable finance in the Middle East. Dubai hosted the COP28 conference, following on from Sharm El-Sheikh in Egypt in 2022. This has well and truly put the spotlight on sustainable finance for banks, corporates and sovereigns in the region.
  • Emirates NBD Private Banking has a proven track record across wealth management in the Middle East. The Dubai-based firm scooped several wins at this year’s Euromoney private banking awards across global wealth management.
  • If you visit the website of National Bank of Bahrain (NBB), it doesn’t take long to recognise that it takes corporate responsibility seriously.
  • As more banks in the Middle East invest in their digital transformations, the largest banks in the region are competing to develop new digital products and services.
  • The provision of transaction services in the Middle East has become one of the most fiercely competitive parts of the market, largely concentrated around banks’ ability to support local and regional champions as well as blue-chip multinationals operating in the region.
  • Emirates NBD has successfully exported its small and medium-sized business banking operations from the UAE to its other core markets of Saudi Arabia and Egypt, creating a regional SME banking champion.
  • If there were two areas for any investment bank’s Middle East advisory team to specialise in and prove all-round excellence in last year, they were the Kingdom of Saudi Arabia and outbound transactions. JPMorgan excelled on both counts.
  • HSBC dominated the region’s debt capital markets across the awards period, completing 52 DCM transactions worth a total of $10.3 billion, according to data from Dealogic. In equity capital markets, the London-headquartered lender came second, completing seven deals worth $2 billion. It also ranked in initial stock offerings, completing six IPOs worth $1.38 billion in total.