Egypt ranks fifth among the Arab nations in terms of the number of banks that appear on the top 100 largest banks in the Arab world.
Eight Egyptian banks were listed among the 100 largest banks in the Arab world in terms of the size of their managed assets until September 2016, according to the Union of Arab Banks (UAB) report.
The UAB secretary general Wissam Fattouh declared that the eight Egyptian banks, ranked from highest to lowest rank include; the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), Qatar National Bank (QNB), Arab African International Bank (AAIB), Banque du Caire, Faisal Islamic Bank of Egypt, and Bank of Alexandria.
The assets managed by these eight banks, which amount to an estimated value of $205bn, account for 7% of the total assets of the top 100 Arab banks, according to Fattouh.
This secures Egypt the fifth rank in terms of the number of banks included in the list, coming behind U.A.E., Saudi Arabia, Qatar, and Lebanon.