The Asian Banker Sunday, 22 December 2024

The Largest Banks Rankings

2021
2020
2019

This year’s evaluation covers the 100 largest Islamic banks from 23 countries, and financial information in the first half of financial year 2020 (1H FY2020) was collated and incorporated into the assessment of how Islamic banks performed during the COVID-19 pandemic.

Saudi Arabia-based Al Rajhi Bank has retained its top spot as the largest Islamic bank. Its total assets expanded by 13% year-on-year (YoY) to reach $111 billion at the end of 1H FY2020. Dubai Islamic Bank places second in the ranking of the largest Islamic banks. The bank posted a strong asset growth of 29% after its acquisition of Noor Bank, this is 20% higher than that of Kuwait Finance House, the third largest Islamic bank. Maybank Islamic, the largest Islamic bank in Asia, places fourth in the ranking, while Faisal Islamic Bank of Egypt is the largest in Africa, with total assets of $6.8 billion.

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 overall profitability of Islamic banks weakened amid the pandemic. Aggregate net profit was down from $6.7 billion in 1H FY2019 to $5.3 billion in 1H FY2020. 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.

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Islamic Bank Rank 2020 Islamic Bank Rank 2019 Bank Country Assets Net Loans Deposits Shareholder's Equity Net Interest Income Total Operating Income Operating Expenses Operating Profit Net Profit Operating Return on Assets (%) Return on Loan to Deposit Ratio (%) Cost to Income Ratio (%) NII to Total Operating Income (%) Equity to Assets Ratio (%) Capital Adequacy Ratio (%) Loan Loss Reserves to Gross NPLs (%) Gross NPL Ratio (%) Liquid Assets to Total Deposits and Borrowings (%)
$million % Change $million % Change Rank $million % Change Rank $million Rank $million % Change Rank $million % Change Rank $million % Change $million % Change Rank $million % Change Rank Equity (%) Assets (%) Tier 1 Total
11Al Rajhi BankSaudi Arabia1,11,33813.173,28515.33389,20811.34713,84212,1520.9572,6042.9528676.81,7371.1491,283-5.6433.319.02.482.233.317.412.418.019.0252.81.0230.1
22Dubai Islamic Bank UAE80,26129.254,53333.31056,22731.6139,93829359.7431,2860.56140022.5886-7.064577-23.1522.411.31.697.031.127.312.415.616.774.14.6215.8
33Kuwait Finance HouseKuwait66,7839.832,0066.86047,32913.6426,045496018.0261,3637.0414948.18696.343215-40.4662.76.10.767.636.229.59.115.016.5209.02.2350.4
44Maybank Islamic Malaysia57,9518.345,1926.85943,9114.6712,521124882.5555533.55025015.3303-4.558122-51.7751.09.30.4102.945.111.84.315.118.4143.30.9913.8
55Qatar Islamic Bank Qatar45,5407.330,8335.06729,282-0.9825,715544510.34171612.6301511.156516.2353821.1322.512.91.7105.321.137.912.517.418.6211.81.3412.3
67Alinma BankSaudi Arabia37,90415.227,50317.72428,63315.7336,23435989.842695-1.4652744.8421-5.059251-28.2562.38.31.496.139.414.016.418.519.6114.62.6513.7
76Abu Dhabi Islamic Bank UAE33,874-0.222,3193.97126,853-1.2835,0376545-8.579696-11.484343-4.0353-17.771160-52.2762.16.40.983.149.221.714.917.118.249.28.4123.7
89Masraf Al Rayan Qatar30,0326.621,4524.46918,5174.7693,651821213.2364116.543934.03187.2412980.3352.116.22.0115.922.748.512.219.119.793.80.9410.0
911Al Baraka Banking Group Bahrain26,1047.813,355-3.78921,1808.3561,3852128327.81955325.0202782.027561.81690-5.2412.18.10.763.150.348.85.314.8*16.7*72.4*6.30*n.a.
1012CIMB Islamic Bank Malaysia26,0687.118,8446.36221,76010.2501,5751822214.73326113.02911841.2143-3.05549-51.7741.16.20.486.645.214.96.014.216.943.61.5721.2
1110Bank Rakyat Malaysia25,5611.316,9894.66819,7771.7784,67473844.3534192.8531453.12742.747161-3.3392.17.01.285.934.68.318.321.723.4117.31.9927.1
1214Bank AlJaziraSaudi Arabia24,48919.314,32923.31816,96814.3383,1021030415.2314139.4342282.718519.03393-28.6581.56.00.884.455.326.312.720.424.2170.21.269.2
1313Bank AlBiladSaudi Arabia23,67715.417,30621.11917,2939.4542,6261142420.1245346.5422653.42699.938157-0.3362.312.31.3100.149.620.611.113.817.7240.31.3123.4
1422Dukhan Bank Qatar20,717n.a.14,215n.a.10011,593n.a.963,157917887.2631745.31210122.521651.21814512.5242.19.21.4122.631.843.815.216.017.186.34.728.8
15-Kuveyt Turk Katilim BankasiTurkey20,11954.89,98232.41115,59250.361,0602542765.2859548.71027783.931827.42513659.6153.425.31.464.046.628.25.315.921.0192.23.1046.8
1619Boubyan Bank Kuwait19,89427.914,66127.61515,31318.6271,8531621412.9372516.04411624.5135-6.06257-39.0641.45.50.695.746.214.69.315.516.8197.01.2026.4
1716RHB Islamic Bank Malaysia18,2383.914,82814.03713,2875.0681,1382313015.23014611.23345-5.810021.22826-59.4801.14.60.3111.631.210.96.213.816.789.70.6713.1
1815Emirates Islamic Bank UAE17,4785.010,98610.34912,2642.8742,26413241-2.767310-14.688146-1.2164-23.9773-98.2871.90.30.089.647.222.213.018.920.0103.28.2039.0
1921Qatar International Islamic Bank Qatar16,2899.59,62411.5419,5584.6702,1831413432.91721916.526474.217220.3311410.4342.113.01.7100.721.438.913.416.517.3105.11.9532.1
2018Public Islamic Bank Malaysia16,0897.311,9167.85513,8245.8641,2092212810.54015418.123564.99727.32637-32.8601.26.10.586.236.616.57.512.516.2158.30.3919.9
2117Bank Islam Malaysia Malaysia16,0116.912,13212.14013,6416.8611,39920195-0.4642517.1401244.81279.33967-11.5461.69.80.988.949.322.28.714.619.2205.20.7026.6
22-Ahli United Bank KuwaitKuwait14,36310.210,0556.7619,04111.5461,59817120-15.189158-14.38759-7.298-18.17357-42.5691.46.80.8111.237.623.611.113.614.8263.8*1.26*22.7
2323Sharjah Islamic Bank UAE14,34019.07,91717.6258,77714.3392,052151267.4481641.95773-5.3908.64068-13.5471.36.71.090.244.723.114.320.121.279.24.9329.3
2425Islami Bank Bangladesh Bangladesh13,65813.810,30510.94311,71715.435736321800.459254-0.26213818.3116-15.87037-5.3421.810.30.687.954.329.25.48.7*13.0*126.8*3.85*n.a.
2531Warba Bank Kuwait11,01924.87,75723.8176,73430.0148402971-5.47385-2.5704223.443-19.274-48P->L910.8-10.9-0.9115.249.516.97.6n.a.15.1n.a.3.4226.0
2627MBSB Bank Malaysia10,829-1.37,576-0.8825,909-3.6871,4941915415.72819136.317455.314649.819-25P->L912.6-3.2-0.4128.223.419.613.815.019.5124.03.2834.5
2726AmBank Islamic Malaysia10,79313.48,06614.4368,53719.42592427990.758110-3.17146-2.564-3.65626-37.9631.25.90.594.542.09.78.611.716.591.61.7123.2
28-Turkiye Finans Katilim BankasiTurkey9,92834.96,28937.097,30741.5117623119033.11625763.4810929.4148103.096297.483.216.31.486.142.526.17.712.517.075.36.0531.9
2929Hong Leong Islamic Bank Malaysia9,14914.86,82317.5267,82015.136677358615.4299818.1222811.36921.229411.7311.612.90.987.229.111.47.412.715.6110.90.8515.8
3032Kuwait International Bank Kuwait8,91017.06,32413.3385,09510.1511,1352478-9.28095-16.391617.134-40.0821-98.3880.80.10.0124.164.418.412.717.018.2143.9*1.92*31.6*
31-Albaraka Turk Katilim BankasiTurkey8,68935.95,24229.4136,52244.11057839121127.3315741.31310316.354140.871110.0261.23.60.380.465.823.06.711.116.260.36.430.3
3230Bank Islam Brunei Darussalam **Brunei7,9416.22,9818.5546,28410.949939262160.4602382.654993.91391.7481145.0291.812.71.547.441.79.111.818.118.347.43.6063.6
3328Ithmaar Bank Bahrain7,9335.54,316-6.5914,69513.8411647285-14.98813324.321895.44495.7101-95.0861.10.30.091.967.136.12.110.713.798.37.8834.2
3433Bank Syariah MandiriIndonesia7,91913.35,0325.4657,04616.5316903322517.22726511.8311230.614223.7274930.5203.615.01.371.446.415.08.716.017.4138.02.5814.8*
3534Meezan Bank Pakistan7,52125.52,844-1.1836,21524.2213924620355.8923546.8119425.214166.0147365.4133.936.32.045.840.113.95.2n.a.20.9128.92.3562.4
3639Faisal Islamic Bank of Egypt Egypt6,77910.2591-5.3905,64211.24884628183-7.976190-8.48190-9.8100-7.06354-36.6622.912.21.610.547.53.712.529.330.673.6*7.10*36.0
37-Ziraat Katilim BankasiTurkey6,72759.95,32457.364,81279.534844016588.2519260.695765.313558.61721-30.1594.38.50.7110.629.514.37.213.615.0109.02.5219.7
3837Jordan Islamic BankJordan6,4147.24,38710.9445,4545.4656633691-0.3631208.036574.86311.1373811.3252.012.01.280.447.624.410.323.824.1255.73.4524.7
3935Ajman Bank UAE6,413-0.64,8365.5644,023-16.19467834509.24476-10.58339-4.637-15.86912-51.1721.23.50.4120.250.833.610.614.215.463.8*7.59*23.9
40-Vakif Katilim BankasiTurkey6,37781.43,43460.444,60974.4465637115193.9116972.675143.911888.9124487.094.315.21.674.530.231.610.321.121.7107.92.6248.9
4142Al Salam Bank-Bahrain Bahrain5,81919.53,16227.9143,85321.523771307149.5108011.732396.94216.53419-42.0681.54.70.782.148.112.013.224.127.451.55.4424.4
4238Bank Muamalat Malaysia Malaysia5,7023.83,81710.0514,7692.5755813861-10.68468-8.0805318.115-49.0842-88.1840.50.70.180.078.410.710.215.418.076.11.4536.1
4343First Security Islami Bank Bangladesh5,42414.54,66417.1284,51316.532191656311.738745.3474627.328-17.8729-6.2441.19.60.3103.362.014.73.56.2*11.4*62.1*4.95*n.a.
4444Export Import Bank of BangladeshBangladesh5,26113.94,47918.7234,0329.05536052405.55161-3.772330.728-8.4661778.1111.19.60.6111.153.933.76.87.9*12.6*76.5*4.32*n.a.
4546Al-Arafah Islami Bank Bangladesh4,6518.43,53310.8453,4593.8732765760-4.87280-5.5754415.036-22.7761165.2141.67.30.5102.155.425.65.910.2*14.6*63.5*4.89*n.a.
4640HSBC Amanah Malaysia Malaysia4,618-3.93,3405.0663,1919.5524564156-0.46563-2.16828-1.235-2.9533-86.1831.41.20.1104.744.911.59.914.219.587.42.5731.0
4749Al Baraka Bank Egypt Egypt4,55910.21,0839.5524,0289.553266597519.725847.5372116.5644.945340.6332.826.31.526.924.511.45.813.320.0107.67.2322.6
4845Kuwait Finance House (Bahrain)Bahrain4,4406.62,5314.4703,45218.2283914733-11.08555-4.373312.524-12.06810-63.4811.14.50.573.356.840.18.815.520.129.2*6.83*9.0
49-Social Islami Bank Bangladesh4,06810.13,10910.7463,44615.6342096336-24.09151-21.292331.818-44.783529.1210.95.10.390.265.328.15.18.1*13.9*68.4*6.65*n.a.
5054Abu Dhabi Islamic Bank - Egypt Egypt4,04219.92,30332.2123,34117.130300541005.152n.a.n.a.9643-0.7n.a.n.a.8734-19.4504.1*23.11.768.938.1*14.8*7.49.813.5154.02.8224.8
5148OCBC Al-Amin BankMalaysia3,9360.52,656-1.8852,9155.16740144423.454502.45523-1.7276.0449-22.2511.34.60.491.145.315.610.216.519.174.13.1636.2
5253Bank BNI SyariahIndonesia3,51419.52,073-1.9863,02120.22436250101-2.466108-1.86663-1.045-2.95418-15.4492.610.51.168.658.26.510.320.020.797.73.9221.8*
5355Bank BRIsyariah Indonesia3,43234.82,42559.352,84346.28361518935.6149428.319475.54764.2158229.773.14.50.585.350.36.110.519.523.775.53.9115.0
54-Alliance Islamic Bank Malaysia3,4226.62,5485.6632,7923.972257603710.839407.13914-4.72614.6365-48.8711.64.00.391.334.57.67.512.515.2132.41.7827.2
5550Bahrain Islamic Bank Bahrain3,4150.62,0811.5772,4771.380288555615.032668.7354420.122-8.2654-55.3771.32.60.284.066.114.88.415.616.832.5*16.52*17.1
5647Bank Muamalat IndonesiaIndonesia3,368-10.91,967-6.7922,672-15.593274581984.873585.7646-11.1-11L->L950-2.838-0.60.30.073.6131.643.88.111.112.128.95.725.8
5751Islamic International Arab Bank Jordan3,2956.91,1897.6562,8285.2663245350-0.26259-2.269272.732-5.96122-4.2402.013.81.342.045.415.59.821.922.1121.63.3134.1
5852Shahjalal Islami Bank Bangladesh3,2365.82,3122.9742,3797.9582076439-10.28356-15.68927-0.828-26.27812-2.6371.811.80.897.248.929.76.48.4*15.3*62.2*4.84*n.a.
5957Bank Nizwa Oman2,75513.71,7138.5532,18014.53740045n.a.n.a.944815.128232.92529.6241537.1191.87.81.178.648.760.8*14.512.413.2n.m.0.6215.9
6058Khaleeji Commercial Bank Bahrain2,5480.4820-9.9931,633-5.5883754911153.62305.84515-11.61530.623153,304.221.29.81.250.249.065.114.720.321.452.8*19.89*20.5
6160Al Baraka Islamic BankBahrain2,46114.51,0880.7791,93017.8292306115-4.470467.538343.71319.4322-45.7701.11.70.256.473.068.19.322.724.266.29.6126.5
62-Islamic Bank of ThailandThailand2,426-5.21,514-2.9872,388-3.186-1049926-14.28730-48.59331-3.4-1P->L89-79P->L91-0.1n.m.-6.263.4103.912.4-4.3-7.3-7.766.925.8613.8
6368Safwa Islamic BankJordan2,37727.01,51425.1162,04829.615211622614.0353515.227182.01734.122714.3231.46.90.673.951.924.28.920.721.0126.42.0726.1
6465ABC Islamic BankBahrain2,30935.51,21212.839n.a.n.a.962795618-10.082235.0484-5.5207.14214-23.5531.89.01.3n.a.15.424.312.131.332.3n.a.n.a.1.5
6559Kuwait Finance House (Malaysia) Malaysia2,029-8.11,048-14.4951,1681.08140843257.747262.1562943.9-3P->L89-6P->L91-0.3-3.1-0.689.7111.53.820.131.332.481.86.7256.2
66-Turkiye Emlak Katilim BankasiTurkey1,886198.91,209382.311,262395.62175692696.4440169.2417116.923228.261-58.0792.61.70.295.842.733.19.335.535.9141.52.0224.4
6766Dubai Islamic Bank PakistanPakistan1,7463.51,12410.5481,1656.463137753925.3224417.3242213.72221.1301121.8222.516.11.396.450.012.77.914.216.957.63.1435.1
6863Alizz Islamic Bank Oman1,729-9.41,461-3.0881,487-9.4911806718-7.67524-5.77621-1.22-32.480-1P->L910.3-1.0-0.198.389.623.810.412.513.3136.1*3.0610.9
6969BankIslami Pakistan Pakistan1,70612.484120.0211,34512.444116814339.7124740.1152617.62183.813655.2172.39.50.662.555.410.36.814.018.581.411.2142.6
7067Bank Aceh SyariahIndonesia1,672-7.598810.2501,421-11.2921836651-8.27853-9.882376.016-32.37910-28.4572.011.21.269.569.14.510.918.420.299.01.64n.a.
7161Standard Chartered Saadiq Malaysia1,661-3.61,017-12.294797-8.0901747014-8.07716-7.97910-11.16-2.4514-27.8540.84.60.5127.660.817.610.525.930.289.51.3241.5
7262Al Rajhi Banking & Investment Corporation (Malaysia) Malaysia1,593-5.11,1282.1761,175-5.5891766818-4.871223.4512311.20P->L891-56.9780.00.80.196.0101.618.111.113.321.8141.91.1216.8
7376Arab Islamic Bank Palestine1,46927.686417.5271,19126.82011680181.856220.959163.16-4.0574-8.4451.07.00.672.571.019.77.911.9813.639.4*1.66*37.0
7476Al Baraka Bank Syria Syria1,37086.712411.44248857.5514973635.415103649.13997.994902.23821,431.9418.9144.116.425.58.394.510.923.925.1108.814.37122.5
7570Palestine Islamic BankPalestine1,2916.98017.3581,0606.9601197820-4.16928-1.16418-0.79-1.8504-39.5651.46.10.675.666.929.19.213.0*13.0*46.3*4.57*33.0
7674Bank BTPN Syariah Indonesia1,0579.5574-1.3846556.56237748115-7.574115-7.27852-12.264-2.85228-33.36111.914.55.287.644.70.435.641.642.3350.81.7738.2
77-Kurdistan International Islamic Bank for Investment and Development Iraq1,051-1.1n.a.n.a.99472-2.485n.a.100n.a.n.a.94n.a.n.a.96n.a.n.a.n.a.n.a.87n.a.n.a.90n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.n.a.
7879Bank Panin Dubai SyariahIndonesia73412.055714.5355442.27611779514.4346-2.06772.5-1L->L950-69.282-0.20.20.0102.3110.216.016.015.116.374.53.7610.3
7978MCB Islamic Bank Pakistan71612.741316.12954627.21962861426.4211629.718142.22L->P860L->P890.41.00.175.690.012.88.612.813.420.00.9933.6
80-Bank NTB SyariahIndonesia70824.640116.03157628.617938214-9.88116-5.474106.66-20.6754-13.9481.89.11.369.762.913.313.134.9*35.8*68.9*1.33*19.8
8188Cham Islamic BankSyria703126.021091.3223638.21211977626.720781,056.425109.8731,610.22693,193.3326.8154.925.389.16.792.916.929.829.873.6*5.06*89.9
8273Qatar First Bank Qatar699-16.9143-59.99747728.41813676-2P->L97-28P->L981715.6-45L->L95-56L->L97-12.0-66.2-14.830.0n.m.94.519.5n.a.11.6*113.137.7073.1
8375First Energy Bank Bahrain682-17.8111-29.8960n.a.9643742-2P->L978-66.9959-5.5-1P->L89-113P->L91-0.3-41.9-29.2n.a.117.1132.464.263.463.9111.3*14.44*94.1*
8480Bank Mega SyariahIndonesia59714.83972.27547719.22690831520.3231416.52511-0.54127.08275.2121.34.50.783.374.1-4.915.118.619.337.72.2716.9*
8581Bank BCA SyariahIndonesia59021.034716.0304197.559164711440.5111538.816940.5636.22128.7272.02.40.782.759.66.427.837.638.4463.40.7539.7*
8684Bank Jabar Banten SyariahIndonesia5095.050649.38377-1.4846188120.161130.960121.61-5.46017.2280.52.80.3134.390.16.312.015.6416.065.82.916.9
87-Amana Bank Sri Lanka50614.03153.87242414.34065848-11.98610-15.7908-8.12-36.2811-41.0670.82.90.474.379.619.312.814.616.042.35.5933.6*
8889Jaiz Bank Nigeria48229.610554.8735629.4164094731.6181940.6141324.9692.111343.6182.515.11.329.567.960.88.316.3*16.4*52.412.4437.2
8982Albaraka Bank South Africa46012.73037.65738811.845469196.250111.85886.93-11.6671-28.0551.16.10.677.976.010.510.010.916.010.74.5428.0*
9083Bank Alkhair Bahrain384-4.800.0812228.0573995-8L->L99-6P->L985-40.4-11L->L95-11L->L97-5.8-19.0-5.80.0n.a.-33.310.1-7.1-7.1n.a.n.a.29.0
9185Bank Syariah BukopinIndonesia380-12.530314.934199-38.69561874-3.1685-0.96355.20P->L890-51.3730.00.10.0152.3100.918.116.113.6714.776.77.1010.7
92-Byblos Bank Syria Syria32398.16819.12214845.191467448.0461192,252.11332.91154,345.311054,506.5187.4217.079.146.22.796.945.242.343.4100.925.71162.3
93-Gulf African BankKenya3193.42051.0782461.5794593108.845134.54911-8.32302.151311.160.63.10.483.384.225.114.113.017.9n.a.n.a.34.9
9493Safa BankPalestine24519.913321.02015647.1760892-22.1902-13.485411.1-2L->L95-3L->L97-1.9-9.7-2.584.9215.619.624.537.238.571.4*1.68*43.6
95-First Community BankKenya1754.19810.6471521.877149836.3495-6.3775-7.7040.220057.9160.32.60.264.195.937.97.92.97.6n.a.n.a.39.0
9690Venture Capital Bank Bahrain156-39.46-85.4980n.a.966385-2L->L99-9L->L1004-20.6-14L->L95-40L->L97-13.2-86.4-38.8n.a.n.a.81.240.28.18.5n.a.n.a.110.5*
9794Bank Victoria SyariahIndonesia14616.38215.73210513.44324961n.a.942-13.5862-10.00-64.6850-90.7850.10.10.078.297.422.816.821.021.8145.01.40n.a.
98-Al Salam Bank - SudanSudan11920.33868.034823.9225990435.7137148.8522.05331.845422.059.115.47.678.922.842.749.322.0*22.0*n.a.n.a.108.4
9999Bank Net Indonesia SyariahIndonesia5415.700.08061,69,762.3145921-50.5931-64.5941-1.80P->L89479.810-2.019.816.60.0157.8-35.883.9346.4346.4n.m.0.00128.8
100-Citi Islamic Investment BankBahrain34143.1133.0730n.a.9614970-32.99215.74616.314.84614.8304.37.44.3n.a.61.287.840.866.166.2n.a.n.a.n.a.

Notes: (1) In the change in income and profit columns, P->L: profit to loss; L->P: loss to profit; L->L: loss to loss. (2) n.a.: not available; n.m.; not meaningful. (3) * & ** FY2019 data.
Source: Asian Banker Research, S&P Global Market Intelligence