MENA’s most valuable banks continue to show resilience, buoyed by solid economic conditions. The combined market value of the banks on our 30 Most Valuable Banks 2025 list increased by 3.4% to hit $600.8 billion as of January 31, 2025, compared to $581.1 billion on February 23, 2024.

This year’s list features banks from seven countries, with 26 entries being Gulf-based. Saudi Arabia represents a third of the list with 10 entries, with an aggregate market value of $269 billion. The U.A.E. follows with seven entries and a market value of $153.4 billion. Qatar has six entries worth a total of $76.7 billion, and Morocco and Kuwait have three and two banks valued at $23.7 billion and $68.4 billion, respectively.

alrajhi bank continues to top the list with a market value of $105.6 billion, constituting 17.6% of the total market value of the 30 banks. It is followed by Saudi National Bank and First Abu Dhabi Bank with $54.7 billion and $43.7 billion in market value, respectively.