Overview of Banks in Bahrain
Over the years, Bahrain has become one of the most attractive places for bankers and investors in the Gulf. As per the Central Bank of Bahrain, there are 403 institutions in Bahrain. Has 103 commercial and investment banks. Out of them, 79 banks are conventional and 24 are Islamic.
As per the report of KPMG, the total assetsThe Report Of KPMG, The Total AssetsTotal Assets is the sum of a company's current and noncurrent assets. Total assets also equals to the sum of total liabilities and total shareholder funds. Total Assets = Liabilities + Shareholder Equityread more of banks have reduced from the US $93.1 in 2015 to the US $90.1 that represents a 3.2% decline.
source: kpmg.com
Structure
The banking structure of Bahrain is almost similar for the last few years. Let’s have a look at total tear sheetTear SheetA tear sheet, or fact sheet, displays the information and summary about the company to its prospective investors to make informed investment decisions. It usually consists of the stock price, market capitalization, the company's outstanding shares, beta of the stock.read more as per the Central Bank of Bahrain –
- Retail banks: There are 29 retail banks as of June 2017.
- Locally incorporated: The numbers of locally formed banks are 13.
- Wholesale banks: There are 73 wholesale banks.
- Foreign banks: If we talk about foreign banks, there are 15 branches of foreign banks in Bahrain.
- Representative offices: There are 8 such offices.
- Bank Society: The number of bank society is just 1.
- Islamic banks: A total of 24 Islamic banks operate in Bahrain.
List of Top Banks in Bahrain
- Ahli United Bank
- Arab Banking Corporation
- Al Bakra Bank Group
- Gulf International Bank
- Investcorp.
- Bank of Bahrain and Kuwait
- Ithmaar Bank
- National Bank of Bahrain
- Bahrain Development Bank
- Arcapita
Let’s explain each one of them as per the total assets owned –
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Source: Banks in Bahrain (wallstreetmojo.com)
#1. Ahli United Bank
- It is one of the most noteworthy banks in Bahrain.
- It was established on 31st May 2000 after the merger of The United Bank of Kuwait (UBK) and Al-Ahli Commercial Bank B.S.C.
- It owns the US $31.32 billion worth of total assets. Ahli United Bank has been very progressing since its inception.
- Its net profit in the second quarter of 2017 has been 3.6% more than the net profit for the second quarter of 2016. In the second quarter of 2017, the net profit of Ahli United Bank is the US $311.3 million.
#2. Arab Banking Corporation
- This bank is much older than its other counterparts.
- It was established in the year 1980. The total assets owned by this bank are the whopping US $29.223 billion as per the last data on 30th June 2017.
- This is one of the largest banks, offering myriad services like trade financeServices Like Trade FinanceTrade Finance is the funding of trade transactions (both domestic and international). It is conducted in the presence of both buyer and seller and can be facilitated with the help of various intermediaries like banking and financial institutions.read more, project finance, structured finance, and also corporate & institutional banking.
- It has clients all over the five continents – Middle East, North Africa, Europe, the US, and Asia.
#3. Al Bakra Bank Group
- The total assets owned by Al Bakra Bank Group till the first half of 2017 was around the US $25 billion. In 2016 alone, it has raised over the US $1.85 billion worth of assets.
- Al Bakra Bank also doubled its net income in 2016. And in the first half of 2017, it had the US $70 million of net income attributable to equity shareholders.
- It has 700 branches in over 15 countries around the world.
#4. Gulf International Bank
Gulf International Bank was founded in the year 1975 in Bahrain and it started its operation in the year 1976. More than 1100 people work for GIB all over the globe and they are specialized in asset management, investment banking, treasury, wholesale banking, etc.
As per the website of the GIB, the total assets owned by GIB at the end of 2015 were US $24.3 billion. The consolidated net income after tax at the end of 2015 was also excellent – the US $90.4 million.
#5. Investcorp
Investcorp is again one of the big names in the banking sector in Bahrain. It was founded in the year 1982. It has headquarters in Manama, Bahrain. This bank focuses on buyouts, hedge funds, real estate, and alternative investments. It has owned the total assets of US $21.3 billion. It has made over 170 corporate investments since its inception. It regularly maintains relationships over 1000 investors as of now.
#6. Bank of Bahrain and Kuwait
Over the last 35 years, this bank has been serving its wide range of customers. This bank serves its customers through various products like loans, portfolio management, and even supporting small, medium, and large businesses in multi-million dollar projects. It was established in the year 1971 and the total assets owned by the bank as of 2013 were US $8.570 billion. 996 employees work in BBK. In 2013, the revenue of BBK was the US $289.103 million and net income was US $119.629 million.
#7. Ithmaar Bank
It is one of the largest Islamic banks in Bahrain. It was founded on 21st October 2003. As per the website of Ithmaar Bank, at the end of 2015, the total assets owned by Ithmaar Bank were US $8.1 billion which were US $0.2 billion more than the figure of the previous year. In Feb 2016, the net income was US $478.4 million which is 5.4% more than the previous year. The net income before provisions and taxes has also increased by 169.2%, i.e. US $77.9 million.
#8. National Bank of Bahrain
The National Bank of Bahrain is one of the most noteworthy banks. It was founded 60 years ago, in the year 1957. Since then it has been servicing its customers in banking, financial services, and investment services.
The total assets owned by this bank were US $7.311 billion as reported in the year 2013. The net income in the same year was US $136.60 million. 593 employees work in the National Bank of Bahrain. The headquarters of this bank is in Manama.
#9. Bahrain Development Bank
It was founded more than 25 years ago, on 11th December of 1991. The focus is to serve the needs of small and medium-sized enterprises. As of 2015, the total assets owned by Bahrain Development Bank were US $514 million. The net income was the US $2.74 million as of the same year. 203 employees work in this bank. It has headquarters in Manama.
#10. Arcapita
Arcapita was founded in the year 1997. It has been serving its customers over 19 years and has completed over 70+ transactions. It has offices in Bahrain, London, Singapore, and Atlanta. The total assets owned by Arcapita are significantly lower than its other big brothers. Total assets owned by Arcapita as of 30th June 2016 were the US $144.5 million. The total revenue as of 30th June 2016 was the US $12.5 million. It has proposed a dividend of US $7.3 million in the same year.
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