Forbes Middle East has revealed its list for 30 Most Valuable Banks 2025, featuring banks from seven Middle Eastern countries.
Saudi Arabia dominates the list with 10 banks, representing a total market value of $269 billion. Al-Rajhi Bank maintains its position on the top of the Forbes list, with a market value of $105.6 billion, accounting for 17.6% of the total market value of the 30 banks.
30 Most Valuable Banks 2025
The Forbes Middle East 30 Most Valuable Banks 2025 list has shown an increase in the combined market value of MENA’s most valuable banks by 3.4% to reach $600.8 billion as of January 31, 2025, compared to $581.1 billion on February 23, 2024.
The 2025 list includes banks from seven countries, 26 of which are Gulf-based. Saudi banks represents third of the list with 10 banks, followed by the UAE with 7 banks and a market value of $153.4 billion.
Qatar comes next with 6 banks having a market value of $76.7 billion, followed by 3 banks for Morocco and 2 banks for Kuwait, valued at $23.7 billion and $68.4 billion, respectively.
Al-Rajhi Bank
Al-Rajhi Bank maintains its position as the most valuable bank in the region, serving 18.5 million customers across 550 branches in Saudi Arabia, Jordan, Kuwait, and Malaysia, as of December 2024. It has a total market value of $105.6 billion.
In 2024, the bank reported a significant growth, increasing its net income by 18.7% to hit $5.3 billion and expanding its total assets by 20.6% to $259.8 billion.
Saudi National Bank (SNB)
With a total market value of $54.7 billion, the SNB ranks second in the Forbes list. The bank operates 481 branches, 21 retail service centers, and 93 QuickPay remittance centers in Saudi Arabia, having overseas branches in Bahrain, the UAE, Qatar, and Singapore, in addition to subsidiaries in Pakistan and Türkiye.
The SNB served 14.4 million customers and recorded total assets of $294.4 billion, as of December 2024. Furthermore, the bank expanded into Taiwan’s Formosa market in July 2024, issuing a $500 million five-year FRN bond under its $5 billion Euro medium-term note program.
Riyad Bank
The Riyad Bank comes in the 9th place, with a total market value of $23.4 billion. It operates 333 branches in Saudi Arabia, a branch in London, an agency in Houston, and a representative office in Singapore.
In 2024, Riyad Bank’s net income surged by 15.9% to reach $2.5 billion. Meanwhile, its total assets increased by 16.42% to $120.1 billion.
Alinma Bank
In the 10th place comes Alinma Bank, with a market value of $19.9 billion. It was established in 2006 as a Shariah-compliant banking services provider. As of December 2024, Alinma Bank served 5.5 million customers across Saudi Arabia.
In 2024, the bank’s net income surged by 20.5% to $1.6 billion. Moreover, it entered into a $756 million Murabaha financing agreement with Bahri to partially fund the acquisition of 9 modern oil tankers.
Saudi Awwal Bank (SAB)
The Saudi Awwal Bank secures the 11th spot on the Forbes list, having a market value of $19.7 billion. It has a network of 103 branches and 4,062 employees in Saudi Arabia.
In 2024, the bank’s net profit increased by over 15% to hit $2.2 billion. In December 2024, Saudi Awwal Bank issued a $1.1 billion SAR-denominated additional tier 1 Sukuk.
Bank Albilad
With a total market value of $13.3 billion, Bank Albilad comes in the 16th place. It offers Shariah-compliant banking services through more than 107 branches across Saudi Arabia.
Moreover, Bank Albilad owns Albilad Investment Company, Albilad Real Estate Company, Enjaz Payment Services Company, and Financial Solutions Company for Investment. In 2024, the bank’s net profit jumped by 18.5% to hit $748.4 million.
Arab National Bank (anb)
The 18th place goes for the Arab National Bank, with 122 branches in Saudi Arabia, 58 remittance centers, and one branch in the UK. It has a total market value of $11.4 billion.
In 2024, the anb’s net profit grew by 22% to reach $1.3 billion. Furthermore, the Saudi Real Estate Refinance Company extended its refinancing agreement with the Arab National Bank with an additional $133.3 million in May 2024.
BSF
Banque Saudi Fransi (BSF) secures the 19th place with a market value of $10.7 billion. It serves around 1.3 million customers across Saudi Arabia, through 81 branches, 393 ATMs, and 27,816 terminals.
In 2024, the BSF’s assets were values at $78.1 billion. The bank raised a $750 million five-year Asian syndicated loan from 26 investors in November 2024. Moreover, it issued a $750 million sukuk in January 2025.
Bank AlJazira
Bank AlJazira ranks 24th, having a market value of $5.15 billion. It provides Shariah-compliant banking services across 73 branches and 38 Fawri remittance centers in Saudi Arabia.
In 2024, the bank’s net profit grew by 20.7% to hit $328.3 million. It also issued a $266.7 million SAR-denominated additional tier 1 Sukuk under its $1.3 billion capital issuance program in January 2025.
The Saudi Investment Bank (SAIB)
SAIB secures the 26th place on the Forbes list. It has a market value of $5.03 billion, serving over 927,000 customers across 51 branches in Saudi Arabia.
The bank’s total assets recorded a growth of 20.5% in 2024 to hit $41.8 billion. In 2024, SAIB Venture Studio launched its first product, the SAIB Travel App.
