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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.
  • Commercial International Bank (CIB) has maintained its position as the bank to beat in Egypt during the review period.
  • Al Rajhi Bank’s Bank of the Future strategy marked its final year in 2023, the end of a series of growth targets set when chief executive Waleed Al-Mogbel took the helm.
  • 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.
  • 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.
  • UAE
    FAB was the clear winner of Euromoney’s best bank award in the UAE this year following a strong financial performance, improvements in environmental, social and governance and sustainable finance, and advancements in technology.
  • 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.
  • It was another stellar year for First Abu Dhabi Bank (FAB), under the continued leadership of group chief executive Hana Al Rostamani.
  • 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.
  • 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.
  • If you visit the website of National Bank of Bahrain (NBB), it doesn’t take long to recognise that it takes corporate responsibility seriously.
  • 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.