"Meed" economic magazine mentioned that Kuwait Finance House (KFH) took first place among Kuwaiti banks and third over banks in the Middle East because its market value capital reached $21.8 billion (KD5.9 billion).
According to the most recent list prepared by "Meed" magazine, which is published in English and highly trusted by economists, both regionally and globally, Al-Rajehy Bank took first place over banks in the area, with a $38.6 billion as market value for capital, and Samba Bank took third with a value of $23.992 billion.
The magazine announced that the bank sector in the Gulf is now solid enough to attract major foreign investments, since it was the focal point in the last period. The Senior Financial Controller in NBD Sanjay Opal stated that in a few years time, the banks that have total assets less than $10 billion will not be able to absorb or resist any turmoil; and that if there is no political approval, then there will be no merging intentions. Moreover, the magazine noticed that in the stock exchange markets in Abo Dhabi, Doha, Muscat, and Saudi Arabia, the bank stocks are the first in trading, where it appears that investors in the rest of the Gulf area tend to keep their stock.
Analysts and experts agree that the economies of the Gulf countries record the highest growth rate in the world, which is pushed by the high prices of oil and the governmental plans of high expenditure in various fields and sectors. This leads analysts to believe that the Gulf countries will continue recording high growth rates in their economies. Moreover, the banks in the area have achieved high rates in all performance and profit indicators, to go side by side with the growth achieved by corporate in various economic sectors. This boosts the efforts exerted by governments in the area to open their markets for foreign investments through issuing suitable legislations, or modifying related laws.