Largest Islamic Banks 2025
The Saudi Arabian Al Rajhi Bank is still the largest Islamic
bank in the world, according to the evaluation of the 100 largest Islamic banks
and financial holding companies (banks) in the financial year 2023 with a
cutoff date of March 2024. The rating has included Ahli United Bank from
Bahrain in the top 10 after it entirely converted to an all-Islamic model after
its purchase by Kuwait Finance House. Alinma Bank is now the fourth largest
after Maybank Islamic, while Abu Dhabi Islamic Bank surpassed Qatar IslamicBank and Masraf Al Rayan.
The top 100 banks collectively have $1.47 trillion in
assets, $941 billion in net financing, $1.04 trillion in customer deposits, and
$23.2 billion in net profit for FY2023 under 25 countries. Among these, 49 are
from Asia, 38 from the Middle East, nine from Europe, and four from Africa,
focusing on banks with available financial data for FY2023. In terms of
numbers, fewer than Asia's holds exactly 21.3% of the total assets of the top
100 banks, but the middle easterners have a far dominating share of 68.7% in
total assets across the banks.
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Largest Islamic Banks 2024
Saudi Arabia-based Al Rajhi Bank accordingly still maintains
its title as the largest Islamic bank of the whole world as per the analysis of
100 biggest Islamic banks and financial holding companies for the financial
year (FY) 2022, with a cutoff of March 2023. The third largest Islamic bank now
became the Kuwait Finance House that surpassed Bank Pasargad and Dubai Islamic
Bank. This year's evaluation brings in 100 of the largest Islamic banks and
financial holding companies from up to 26 countries.
Among the assets of the 100 largest Islamic banks were $1.57
trillion, net financing by $1 trillion, deposit of $1.15 trillion, and net
profits of $24.4 billion. The rankings generally have 45 Asian Islamic banks,
42 Middle Eastern, nine European, and four African Islamic banks among the 100
banks.' An examination of the top 10 largest Islamic banks provides a very rich
geographical representation, with Saudi Arabian, Iranian, Emirati, Qatari, and
Kuwaiti, and Malaysian players. The percentage of total assets held by middle
east banks compared to that of asians is truly dominating at 71.6%, holding
against 24.3%.
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Largest Islamic Banks in 2023
Al Rajhi Bank in Saudi Arabia remained the largest Islamic
bank in the world, according to the evaluation of the 100 largest Islamic banks
and financial holding companies (banks) in the world during the financial year
(FY) 2021 with a cutoff of March 2022. This year covers 100 largest Islamic
banks and financial holding companies (banks) across 26 countries.
More countries and banks have been adopting Islamic banking,
and Malaysia has the most Islamic banks in the listing while counting large
Saudi Arabian shares in total assets. The aggregated total assets of Saudi
Arabian Islamic banks exceed that of Malaysian Islamic banks, as of the four
Saudi Arabian banks in the ranking, total assets increased by 24.2 and with
that for the Malaysian Islamic banks by 5.6 the FY 2021 results. Forty-four out
of the 100 biggest Islamic banks originate from Asia, and these banks have held
24.5% of the whole aggregate total assets of the 100 banks. As forward-looking,
it is expected that the Islamic banking industry would hence continue the
impetus for growth.
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Largest Islamic Banks in 2022
Saudi Arabia-based Al Rajhi Bank topped the ranking of the
largest Islamic banks in the world, according to an evaluation of the 100
largest Islamic banks and financial holding companies (banks) in the world for
the financial year (FY) 2020, with a March 2021 cutoff. The 100 largest Islamic
banks combined had $1.1 trillion in total assets, $721 billion in net loans,
$824 billion in customer deposits and $12.7 billion in net profit.
Malaysia had the most Islamic banks on the list, followed by
Indonesia, Bahrain and Bangladesh. Meanwhile, Malaysia also held the largest
share of total assets at 21.8%, while Saudi Arabia, the United Arab Emirates
(UAE), Kuwait and Qatar accounted for 19.5%, 14.1%, 11.4% and 11% of the
aggregate total assets respectively.
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Largest Islamic Banks in 2021
Evaluations show that Al Rajhi Bank of Saudi Arabia is the biggest Islamic bank in the world. This assessment is based on the evaluation of 100 biggest Islamic banks and financial holding companies (banks) in the world for FY 2020, with a cutoff date of March 2021. Total assets combined for the largest 100 Islamic banks added up to $1.1 trillion, $721 billion in net loans, $824 billion in deposits, and $12.7 billion in net profit. Asset figures grew by 12% for these banks, while aggregate net profit slid by 15%. The rank remained almost the same in the top 10.
The size of all Islamic banks in the list aggregated to the total assets of 1.03 trillion dollars, which is an increase from 903.9 billion dollars in last year's evaluation, which was based on data in FY 2018. The overall profitability of Islamic banks deteriorated due to the pandemic. Aggregate net profit decreased from $6.7 billion of 1H FY2019 down to $5.3 billion in 1H FY2020. The aggregate total assets of Islamic banks from Malaysia, Saudi Arabia, UAE, Kuwait and Qatar together account for 77% of the total assets of the 100 largest Islamic banks. Bahrain and Indonesia combined have 7.9% share of total bank assets, although there are 26 Islamic banks from these two countries.
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Largest Islamic Banks as of 2020
According to the ranking of the largest Islamic banks, Al Rajhi Bank from Saudi Arabia was named the largest Islamic bank based on the evaluation of the 100 largest Islamic banks in the world and their financial holding companies (banks). This is with consideration of the financial year (FY) 2018, with a cutoff date of March 2019. The ranking includes only the Islamic banks whose financial data were available in FY2018. Islamic banking or Shari'ah banking is based on Islamic economics. It is usually assumed to be a more equitable and sustainable form of financing and has attracted new participants beyond the Muslim world because it forbids the charging and paying of interest and the trading of assets that are non-Shariah compliant or haram.
Malaysia, Saudi Arabia, the UAE, Qatar and lastly Kuwait are
the largest markets in terms of Islamic bank assets. Their aggregate asset
comprises 79% of the combined assets of the 100 largest Islamic banks. Six of
the top twenty positions, along with sixteen in total out of the 100, were
occupied by Malaysian Islamic banks.
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