Nine Jordanian banks among top 100 most powerful Arab banks for 2023

AMMAN — Nine Jordanian banks have been ranked among the 100 most powerful Arab banks in terms of capital for 2023, according to Secretary-General of the Union of Arab Banks Wissam Fattouh.

An analytical study by the Union's General Secretariat revealed that the rankings, based on capital, included nine Jordanian banks: Arab Bank, Housing Bank, Capital Bank of Jordan, Jordan Kuwait Bank, Union Bank, Jordan Islamic Bank, Bank of Jordan, Cairo Amman Bank, and Jordan Ahli Bank.

The combined capital of these nine banks totals $13.3 billion, with their aggregate assets valued at approximately $131.3 billion, according to the Jordan News Agency, Petra. 

Arab Bank led locally, securing the 16th spot regionally in terms of capital, followed by Housing Bank in 57th place, and Capital Bank of Jordan in 70th.

Jordan Islamic Bank followed in sixth place locally and 80th regionally, with the Bank of Jordan in seventh place locally and 82nd regionally. 

Cairo Amman Bank ranked eighth locally and 88th regionally, and Jordan Ahli Bank ranked ninth locally and 98th in the Arab world.

In terms of assets, Arab Bank led locally and ranked 14th in the Arab world, followed by Housing Bank in second place locally and 61st regionally. 

Capital Bank of Jordan secured third place locally and 67th regionally, while Union Bank ranked fourth locally and 69th in the Arab world.

The Jordan Islamic Bank was ranked fifth locally and 73rd regionally, while Jordan Kuwait Bank was sixth and 77th regionally. 

Cairo Amman Bank was ranked seventh locally and 83rd regionally and Jordan Ahli Bank came eighth locally and 90th regionally.

The study also revealed that the total core capital of the 100 strongest Arab banks reached $451.9 billion, with combined assets amounting to $4.2 trillion.

The UAE led the list with 18 banks, while 21 Arab Islamic banks were featured, including contributions from Qatar and Saudi Arabia (four each), Kuwait, the UAE, and Bahrain (three each), Egypt (two), and Jordan and Oman (one each).