A new list is out by Forbes Middle East ranking the 75 largest banks in the Arab stock markets, based on their performance during the year ending December 31, 2011.
The listing which includes 75 Arab banks was dominated by banks from the GCC region which made up 57 of the total list. Coming on top was QNB with total assets of $82,995 million, followed by Al Rajhi Bank of Saudi Arabia with total assets of $58,940 million.
The study included 19 countries within the Middle East and North African region, with the exception of Syria, Libya, Iraq, Mauritania, Yemen, Algeria, Sudan and Tunisia due to the political instabilities and the fact that financial data was not yet available at the time this study conducted.
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