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Islamic banks' assets rose 13%

Saudi Arabian Islamic banks continue to display strong financial performance. The growth of Islamic bank assets accelerated despite slowdown in profits

February 02, 2021 | Wendy Weng
  • Al Rajhi Bank is the largest and strongest Islamic bank in the world
  • The average asset growth of Islamic banks accelerated amid the pandemic
  • Overall, Islamic banks in Saudi Arabia achieved the highest average strength score

 

Saudi Arabia-based Al Rajhi Bank has retained its top spot as the largest and the strongest Islamic bank based on the ranking of the 100 largest Islamic banks in the world. Its total assets expanded by 13% year-on-year (YoY) to reach $111 billion at the end of the first half of financial year 2020 (1H FY2020).

This year’s evaluation covers banks from 23 countries, and financial information in 1H FY2020 was collated and incorporated into the assessment of how Islamic banks performed during the COVID-19 pandemic. At the aggregate level, total assets of Islamic banks on the list stood at $1.03 trillion, compared to $903.9 billion in the previous year’s evaluation, which was based on data in FY 2018.

The aggregate total assets of Islamic banks from Malaysia, Saudi Arabia, UAE, Kuwait and Qatar account for 77% of the total assets of the 100 largest Islamic banks. Bahrain and Indonesia combined have 7.9% share of total bank assets, although there are 26 Islamic banks from these two countries.

Top 100 Islamic banks: Saudi Arabian Islamic banks are the strongest while Malaysia holds the largest combined Islamic bank assets

Figure 1. Breakdown of the world’s 100 largest Islamic banks


Accelerated growth and weaker profitability

The average asset growth of Islamic banks listed accelerated from 8.7% YoY at the end of 1H FY2019 to 13% YoY at the end of 1H FY2020, which is higher than the average asset growth recorded by the 200 largest banks in the Middle ...

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Categories:

Asian Banker 500

Keywords:Largest Banks, Strength, Growth, Covid-19, Profitability, Balance Sheet, Islamic Banks


Islamic banks' assets rose 13%

Saudi Arabian Islamic banks continue to display strong financial performance. The growth of Islamic bank assets accelerated despite slowdown in profits

February 02, 2021 | Wendy Weng
  • Al Rajhi Bank is the largest and strongest Islamic bank in the world
  • The average asset growth of Islamic banks accelerated amid the pandemic
  • Overall, Islamic banks in Saudi Arabia achieved the highest average strength score

 

Saudi Arabia-based Al Rajhi Bank has retained its top spot as the largest and the strongest Islamic bank based on the ranking of the 100 largest Islamic banks in the world. Its total assets expanded by 13% year-on-year (YoY) to reach $111 billion at the end of the first half of financial year 2020 (1H FY2020).

This year’s evaluation covers banks from 23 countries, and financial information in 1H FY2020 was collated and incorporated into the assessment of how Islamic banks performed during the COVID-19 pandemic. At the aggregate level, total assets of Islamic banks on the list stood at $1.03 trillion, compared to $903.9 billion in the previous year’s evaluation, which was based on data in FY 2018.

The aggregate total assets of Islamic banks from Malaysia, Saudi Arabia, UAE, Kuwait and Qatar account for 77% of the total assets of the 100 largest Islamic banks. Bahrain and Indonesia combined have 7.9% share of total bank assets, although there are 26 Islamic banks from these two countries.

Top 100 Islamic banks: Saudi Arabian Islamic banks are the strongest while Malaysia holds the largest combined Islamic bank assets

Figure 1. Breakdown of the world’s 100 largest Islamic banks


Accelerated growth and weaker profitability

The average asset growth of Islamic banks listed accelerated from 8.7% YoY at the end of 1H FY2019 to 13% YoY at the end of 1H FY2020, which is higher than the average asset growth recorded by the 200 largest banks in the Middle ...

Please login to read the complete article. If you already have an account, you can login now or subscribe/register.

Categories:

Asian Banker 500

Keywords:Largest Banks, Strength, Growth, Covid-19, Profitability, Balance Sheet, Islamic Banks


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