Top 10 Banks in Middle East and Africa in 2021 by Revenue

Standard Bank Group Ltd, Qatar National Bank, National Bank of Egypt SAE, Emirates NBD Bank, and FirstRand Ltd are the top 5 banks in the Middle East and Africa in 2021 by revenue. Collectively, the top 10 banks in the Middle East and Africa generated revenue of $108,130 million, where Standard Bank Group Ltd ($16,628 million) has the highest, followed by Qatar National Bank ($14,435 million) and National Bank of Egypt SAE ($14,385 million), while Nedbank Group Ltd stood lowest ($6,491 million). The highest revenue increase was registered by Saudi National Bank (31.5%), followed by Al Rajhi Banking & Investment Corp (25.3%), and Standard Bank Group Ltd (11.9%), while the companies FirstRand Ltd, Nedbank Group Ltd, and Absa Group Ltd had a revenue growth decrease of 6.7%, 4.03%, and 1.5%, respectively. In terms of the geographical split, 4 out of the top 10 banks in the Middle East and Africa are based in South Africa, while 2 are based in the United Arab Emirates, while 2 are based in Saudi Arabia, and the remaining companies are based in Qatar and Egypt. They employed a total of 249,996 people in 2021. South Africa-based Standard Bank Group Ltd is the leading bank in the Middle East and Africa (by revenue). The company reported revenues of $16,628 million for the fiscal year ended December 2021 (FY2021), an increase of 11.9% over FY2020, as the economy of sub-Saharan Africa recovered by growing at around 4.0% in 2021. The company is a provider of a range of banking and financial services that consists of personal banking, commercial banking, investment banking, insurance, and capital and wealth management solutions. It is headquartered in Johannesburg, Gauteng, South Africa, and employs 49,000 people in FY2021. Qatar-based Qatar National Bank is one of the leading banks in the Middle East and Africa (by revenue). The company reported revenues of $14,435 million for the fiscal year ended December 2021 (FY2021), an increase of 6% over FY2020, excluding Unallocated and intra–group transactions, it accounted for 39.0% of the bank's net revenue in FY2021. The company is a provider of retail and commercial banking and asset management solutions to retail, corporate, and high-net-worth individual clients. Its portfolio of offerings comprises accounts and deposits, cards, loans, financing solutions, bancassurance, payment solutions, cash, asset, and debt management services. It is headquartered in Doha, Qatar, and employed 27,381 people in FY2021.