Four Omani banks ranked among Middle East’s top 50 lenders by Forbes
Bank Muscat, BankDhofar, NBO, and Sohar International recognized for strong performance in sales, profits, and assets
MUSCAT, Oman (MNTV) — Four leading financial institutions from Oman have been named among the Middle East’s top 50 banks by Forbes Middle East, in recognition of their financial strength and contributions to regional economic growth.
The newly released 2025 edition of the Top 50 Banks in the Middle East highlights the region’s most influential banking players, based on key financial metrics including total assets, annual revenues, net profits, and market capitalization.
According to Muscat Daily, the rankings were derived from publicly listed banks across the Arab world using 2020 financial data.
Bank Muscat, Oman’s largest financial institution, secured the 23rd position in the list with $1.7 billion in annual sales, $424 million in net profits, and total assets valued at $32.3 billion.
BankDhofar ranked 41st, posting $600 million in revenues, $80 million in profits, and $11.1 billion in assets.
National Bank of Oman (NBO) was placed at 44th, with annual sales of $515 million, profits of $47 million, and $9.4 billion in assets.
Sohar International Bank also featured in the prestigious list, ranked 47th with reported sales of $434 million, profits of $60 million, and total assets of $9.4 billion for the year.
Qatar’s QNB Group topped the regional list with $13.5 billion in sales and $3.3 billion in net profits, followed by First Abu Dhabi Bank (UAE) and Saudi National Bank, who ranked second and third respectively.
As of June 6, 2021, the combined market value of the 50 banks featured in the Forbes list stood at $513.6 billion, with total assets reaching $2.5 trillion — a figure more than triple the GDP of Saudi Arabia, the region’s largest economy.
Saudi Arabia and the UAE each had 10 banks represented on the list, followed by Qatar with eight entries and Kuwait with six.
Forbes noted that a wave of consolidation has played a major role in shaping the current landscape of the Middle East’s banking sector.
“Many of the top-performing banks have expanded through strategic mergers, allowing them to enhance operational scale, reduce competition, and increase market specialization,” the publication said in a statement.
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