The good news of 2020 – the 50th anniversary of the ranking – is that the global banking industry is broadly in good shape. It is now the fourth-largest Islamic bank globally by assets, has huge backers in its majority ownership by the Abu Dhabi ruling family and sovereign wealth fund, and now has decent on-the-ground reach as well, with 75 branches, 549 ATMs and over half a million customers. Best Islamic Bank in Brunei Bank Islam Brunei Darussalam. For the moment, though, Kuwait Finance House is the bank with the broadest range of business, covering personal and commercial banking, leasing (a particular strength), asset management, private banking, project finance and real estate. If you’re sensing a trend here, you’re not alone. To put that into context, the 11 banks offering Shariah-compliant financial services in Indonesia had IDR199.7 trillion in assets between them by the end of 2012, putting Mandiri at about a quarter of the market. A more recent investor presentation from February 2013 lists total assets in Bank Syariah Mandiri at IDR54.2 trillion, total deposits of IDR47.4 trillion and a return on equity of 25.04% – good business. Sultanah Nur Zahirah (Rozita binti Adil Bakeri), born 7 December 1973, is … 2012 marked an impressive year of statistical year-on-year improvements for Meezan Bank, Pakistan’s first, biggest, and still-best Islamic bank. Top banks have been playing a very pivotal role in the people’s loves. It is active now in 15 countries through 400 branches, including a strong presence across North Africa, while it has ventured as far east as Iraq. BIBD was also the first institution to launch Islamic mutual funds in Brunei, and it has subsidiary businesses for fixed deposits, vehicle hire purchase, consumer product financing, securities and brokerage, takaful and investment banking, with a particular trophy being a co-lead role on the Republic of Indonesia’s US$1 billion sukuk issue in 2011. Doha The Asian Banker magazine has ranked Qatar Islamic Bank (QIB) as the ‘Third Strongest Islamic Bank in the World’ and ‘Eighth Strongest Bank in the Middle East’ in its 2020 rankings of the 500 strongest banks. According to Internal and Islamic Economics Division, Research Department, Bangladesh Bank, at the end of September 2016, eight full-fledged Islamic banks … * FY2019 data That was enough to give lenders sufficient comfort to release their funds, without falling foul of Mecca property law or the people who enforce it. The mood in the region still requires the latter of these, and for that reason Al Rajhi – conservative and reliable – remains our choice for the region. It is also the leading structured product house in Malaysia. Additionally the bank was involved in DanaIfra Nasional’s MYRB2.4 billion Islamic medium term notes issues; big power and energy sukuk fundraisings for Kimanis Power and TNB Janamanjung; and deals taking Malaysians offshore for Axiata and Khazanah, discussed in the Asia section. *The World Islamic Banking Conference 2016, which will be held at Art Rotana Amwaj Bahrain from December 5-7, will address issues in Islamic … Deep Knowledge Group. ICBC (Industrial and Commercial Bank of China), a state-owned financial institution, is the world’s biggest bank by total assets and deposits. Investment banking continues to be what sets CIMB apart, however. It has securitised home loans, auto loans, bonds, property and government receivables in Shariah-compliant ways. World’s Best Digital Banks 2020 Round 2: Demand Develops . It is successful in corporate banking too, arranging big bilateral Islamic facilities for Dana Infra’s mass rapid transit project and for an aircraft acquisition by Malaysian Airlines. Affin Bank – A wholly owned subsidiary of Affin Holdings Berhad (AHB). At this time its asset base stood at QAR66.8 billion (US$183.35 million), up 26.7% year on year, with a net profit of QAR1.13 billion. The capital adequacy ratio of 26% speaks of considerable surplus liquidity. Yet despite this it remains the clear national leader in Islamic finance. Mandiri accounted for this figure as part of a group-wide fee-based income figure of IDR1.3 trillion, which suggests that revenues from Shariah business are becoming highly notable within the broader bank. Among other things, the aim is to regionalise products and services – so a new product in one country can easily be adapted for another with the help of the same originating team; to regionalise client coverage, drive cross-border collaboration and cross selling, and to offer hedging and risk management solutions regionally. This bank may lack Al Rajhi’s financial strength, being rated ‘BBB-‘ by Standard & Poor’s, but Al Baraka is growing fast and has an impressive asset base for its breadth, with US$19 billion in assets by the end of 2012. The list is based on the April, 2020 S&P Global Market Intelligence report of the 100 largest banks in the world. The four largest banks are headquartered in China. Al Rajhi has had a difficult year, once again facing allegations of terrorist financing following a US Senate investigation into HSBC in July. For a full explanation of the evaluation criteria please click here. Net interest margins and cost of funds are steady. Islamic assets represent 23.1% of the Malaysian banking system yet in Indonesia it’s just 4.7%, despite the latter possessing a far bigger Muslim population. In view of the coronavirus disease (COVID-19) outbreak, all event schedules have been moved to a time when we reasonably expect the crisis to be contained. Among CIMB’s recent highlights was the world’s largest ever sukuk to date: a MYR34.35 billion (US$11.08 billion) Islamic medium term note programme from Projek Lebuhraya Usahasama (PLUS), the highway group. Top 1000 World Banks 2020 The results of this year’s Top 1000 World Bank ranking must be regarded as the calm before the storm. CIMB was sole principal adviser and sole lead arranger on this deal, which apart from its sheer scale required negotiating among numerous authorities, regulators, investors and a rating agency connected with the underlying toll highway projects. No other bank can offer this compelling mix of investment banking leadership and innovation with a solid corporate and retail presence. Its solution was an Islamic land-lease and asset ownership structure involving the safeguarding, but not the transfer, of title deeds by a Saudi-owned security agent. The latter was up 7% on the previous year, while its banking revenue was up 34%. It was no vanilla financing exercise. Indonesia’s government has set a target of 10% of total bank assets being Shariah-compliant by 2015-20. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. As of September 2013, 15,354 people were employed in the Shariah bank. Flowing from that is a retail financing business that gives Al Rajhi the Islamic equivalent of a net interest margin of just under 4.5%; the sector as a whole is more like 2.8%. It has advised governments on Islamic finance frameworks particularly around domestic capital markets in Indonesia, Thailand, Singapore, South Korea, Hong Kong and the UK, relationships that now stand the group in good stead for expansion. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. The 20 safest countries on the planet for COVID-19, according to the Deep Knowledge Group. CIMB dominates sukuk bond issuance in Malaysia to a remarkable degree. Maybank Islamic is the largest Islamic bank in the ASEAN region and one of the five largest Islamic banks globally, with total assets of $55 billion. Chris Wright reports. Net Income (TTM): … Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. The world’s third-largest Islamic bank by total assets offers a wide range of shariah-compliant products and services to wholesale, corporate and other clients. CIMB Niaga itself is the fifth largest bank in Indonesia, providing a suitable bedrock upon which to build a Shariah, or Islamic law-compliant financial business that should make the most of Indonesia’s vast, and insufficiently tapped, potential for Islamic finance. Its most recently published financial statements give a snapshot of its financial status as of September 30, 2012. According to The Banker, as of November 2015, three out of ten top Islamic banks in the world based on return on assets were Iranian. The ranking was based upon assets as reported and was not adjusted for … Beyond that, in addition to the market-leading Malaysian franchise, there is a genuine regional footprint now, reflected in the 48% growth in total assets for CIMB Islamic between 2007 and 2011. Industrial and Commercial Bank Of China Ltd. (IDCBY) Revenue (TTM): $123.6B. There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. Top of the list was a deal for ADIB itself: a US$1 billion perpetual non-call six-year hybrid Tier 1 sukuk issue in November 2012. The average asset growth of Islamic banks listed accelerated from 8.7% year-on-year (yoy) at the end of 1H FY2019 to 13% yoy at the end of 1H FY2020, which is higher than the average asset growth recorded by the 200 largest banks in the Middle East and Africa at 10.9% yoy and the 500 largest banks in Asia Pacific at 10.3% yoy. Top 30 banks by assets in Africa and Middle East, 2020 Despite an economic slowdown on the back of global trade tensions, China's largest banks continued to grow in 2019 and further embedded their positions among the world's biggest banks, S&P Global Market Intelligence's annual global bank … In March the first tangible sign of this came with the launch of KFH Real Estate Company, a separate investment vehicle formed out of its fully-owned subsidiary Nakheel United Real Estate. Among other steps, executing the transaction involved a buyback exercise from nine sets of bondholders, and a consent solicitation with a further seven, concurrently. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. Annual deposits and other accounts soared 36% during calendar year 2012; Islamic financing and related assets were up 26%; investments increased 55%; total assets expanded 37%; shareholders’ equity rose 16%. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. What should be the most important criterion when awarding the top Islamic bank award in the Middle East? Founded only in 1997, it is far younger than Dubai Islamic, but since 2008 in particular – when new management arrived with a clear strategic vision – the momentum has been clear. This year, 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. Islamic Finance industry title IslamicFinance.com ranks Al Rajhi Bank, Kuwait Finance House and Dubai Islamic Bank as top three biggest Islamic Banks globally.. This is the biggest container port between Rotterdam and Singapore and accounted for 21% of Dubai’s GDP in 2009, and is a Dubai flagship – but it faced a maturing AED7.5 billion (US$2 billion) floating rate sukuk that had been launched in far brighter economic days in 2007. The group launched 35 products into the market in the first 11 months of 2012, and said it had a further 59 in the pipeline. As a result it dominates with the largest Islamic branch network in the country. The Asian Banker’s 500 Strongest Banks Rankings is one the world… The bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US$650 million Regulation S sukuk. Why does the web site not carry any annual report later than 2011, and no financial statements after that date? According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. Bank Syariah Mandiri’s market strength has grown dramatically since 2007, with total financing, deposits and assets all up four times over since then. Better still, that retail base – young, Muslim, growing in wealth and sophistication – is going to account for increasing opportunity both individually and in corporate life as it grows up. Please get in touch with Sue Kim at skim@theasianbanker.com for further clarifications. Pakistan is still not the easiest market in which to do business; an NPL ratio of 5.3% in 2012 is an improvement on 6.14% the previous year, but it still speaks of weak creditworthiness in parts of the book. Although the increasing foreign exposure of Qatar’s banks is a growing … Top 1000 World Banks 2020 The results of this year’s Top 1000 World Bank ranking must be regarded as the calm before the storm. An Islamic bank branch in the UMNO building in Kota Kinabalu. Sharia advisory councils and consultants. It is one of the fastest growing religions and … From its roots as a brainy but limited-reach investment bank in Malaysia, CIMB Islamic can now claim to be a universal Islamic banking operation in four Asian markets: Malaysia, Indonesia, Thailand and Singapore. Beyond that, corporate finance is growing, while the bank ranks second in equity brokerage now through its Al Rajhi Capital arm, which is also a major player in asset management, and increasingly active in investment banking and research. According to The Banker, as of November 2015, three out of ten top Islamic banks in the world based on return on assets were Iranian. The parent has also been helpful in other ways: first with a three-year capital injection programme, which in turn has helped secure strong ratings; and secondly as a cross-selling opportunity. In February it reported a 9% year-on-year rise in net profit for 2012, at KWD87.7 million (US$306.97 million), with its capital adequacy ratio up to 14%. Prime Bank: Term used to describe the top 50 banks (or thereabouts) in the world. We highlight Al Rajhi despite the fact that its regional presence is not as dynamic as, say, Kuwait Finance House or Al Baraka; leaving aside its considerable Malaysian operation. 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