The Banker magazine said five Egyptian banks have entered the top 1,000 world banks, according to “Tier1Capital” in a statement issued by the General Secretariat of the Union of Arab Banks (UAB).
The Egyptian banks made it onto the list alongside 78 other Arab banks, who also entered the top 1,000 list.
The Egyptian banks rated by The Banker included the National Bank of Egypt (NBE), Banque Misr, the Commercial International Bank (CIB), the Arab African International Bank (AAIB), and Banque Du Caire.
The UAE was home to the largest number of Arab banks on the top 1,000 banks list, with 19 banks. Saudi Arabia followed the UAE with 12 banks, while Lebanon, Qatar and Bahrain were represented by nine banks for each country.
Kuwait entered onto the list with eight banks, followed by Egypt and Oman, with five banks each. There were also four banks from Morocco, two banks from Jordan and one bank from Libya.
According to the UAB statement, the first tier of the five Egyptian banks’ capital registered $7,315bn, as monitored by The Banker magazine, while total assets amounted to nearly $143,689bn.