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First Abu Dhabi Bank tops Middle East and Africa bank list as UAE lenders expand balance sheets
The renewed lead comes against the backdrop of solid first‑quarter results from UAE banks, which pointed to resilient earnings, strong income growth and continued lending momentum
- PUBLISHED: Thu 30 Apr 2026, 6:36 PM
UAE lenders have strengthened their dominance among the Middle East and Africa’s largest banks by assets, underlining the sector’s balance‑sheet expansion even as regional geopolitical risks persist. Fresh data from S\&P Global Market Intelligence shows UAE banks accounting for the largest share of total assets among the region’s top 30 lenders, reflecting sustained growth across the country’s financial system.
At the top of the rankings, First Abu Dhabi Bank PJSC emerged as the Middle East and Africa’s largest bank by assets at the end of 2025, narrowly overtaking Qatar National Bank. FAB reported total assets of $382.2 billion, edging ahead of QNB’s $381.6 billion, according to the latest S&P analysis.
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The rankings highlight the rising scale of UAE lenders more broadly. Emirates NBD Bank PJSC ranked fourth in the region, while the country as a whole accounted for about $1.19 trillion in total banking assets across the top 30 banks — the largest aggregate share by country in the sample.
The renewed lead comes against the backdrop of solid first‑quarter results from UAE banks, which pointed to resilient earnings, strong income growth and continued lending momentum despite volatility in energy markets and heightened geopolitical uncertainty.
FAB’s first‑quarter net profit dipped modestly year on year after higher impairment charges, but operating income rose and total assets crossed the $400‑billion mark for the first time, reinforcing its position as the region’s biggest lender by balance sheet size. Emirates NBD, meanwhile, posted an increase in quarterly profit on the back of higher operating income, while also reporting growth in loans and deposits.
Industry analysts say the contrast between steady asset growth and more cautious provisioning reflects a deliberate strategy by UAE banks to protect balance‑sheet strength while remaining active lenders. Banks entered 2026 with strong capital buffers, high liquidity levels and diversified income streams, allowing them to absorb potential shocks while continuing to finance the real economy.
Beyond the UAE, Saudi, Israeli and South African lenders featured prominently in the rankings, although only one new entrant — South Africa‑based Investec Group — joined the top‑30 list this year.
For UAE banks, the latest rankings reinforce a broader trend: steady consolidation of regional leadership built on scale, capital strength and sustained asset growth — advantages that appear set to underpin performance through the rest of 2026.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.