Rabat - Four Moroccan banks made it on the Banker Magazine's 2015 list of top 1,000 world banks.
Rabat – Four Moroccan banks made it on the Banker Magazine’s 2015 list of top 1,000 world banks.
The Moroccan banks ranked by the British financial magazine the Banker included: Attijariwafa Bank, Banque Centrale Populaire, BMCE Bank and BMCI Bank.
The Moroccan banks are ranked alongside 78 other Arab banks. The Banker based on Tier 1 capital to measure the financial strength of the world’s 1,000 top banks.
The UAE has the largest number of Arab banks on the Banker’s top 1,000 banks list, with 19 banks. It was followed by Saudi Arabia with 12 banks, while Lebanon, Qatar and Bahrain were represented by nine bans for each country. Kuwait made it to the list with eight banks, followed by Egypt and Oman, with five banks each. There were also two banks from Jordan and one bank from Libya.
Saudi Arabia’s National Commercial Bank ranked the top bank in the Middle East region, with Tier 1 capital of over US$12 billion. Qatar’s National Bank and Saudi Arabia’s Al Rajhi Bank rounded the top three to take second and third, respectively.
Sharia compliant banks secured seven spots in the 2015 Banker ranking, compared with just three in the 2014 ranking.
According to the Banker, African banks increased profits by 18%, while Latin American banks increased by 17% and Asian banks by 7.5%.
Globally, China has three banks in the top five places, with Bank of China moving from seventh place to fourth, and China Construction Bank staying in second place, according to the Banker.
The top 5 world banks by Tier 1 capital are: China’s ICBC (1st), China Construction Bank (2nd), US JP Morgan (3rd), Bank of China (4th) and Bank of America (5th).
The Banker is the world’s premier banking and finance resource, providing global financial intelligence since 1926. The Banker’s Top 1000 World Banks provides comprehensive intelligence about the health and wealth of the banking sector.
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