The list of the largest financial institutions in MENA based on The Banker data reveal a tough year for regional banks and how they still lag in many areas compared to their global peers.
The number of Middle East banks in the 2011 edition of The Banker Top 1,000 World Banks 2011 slipped to 83 from 90 in the 2010 rankings.
Saudi Arabia's National Commercial Bank retained its position as the region's biggest bank in terms of Tier 1 Capital with $8.313 billion, but it is only the 121st biggest bank in the world, according to The Banker rankings. Still, NCB improved its overall position of 126th last year.
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