BANKING HUB

Saudi banks dominate MENA ranking on annual Forbes list

The UAE came in second and third while Riyadh-based Al-Rajhi Bank was the region’s most valuable lender, with a market value of $106 billion

Abdullah Al-Eisa/Getty Images

Al Rajhi Bank headquarters in Riyadh

While Saudi Arabia leads the Gulf in oil production, it’s also the region’s biggest banker.

The kingdom hosts 10 of the 30 largest lenders in the Middle East and North Africa, with a combined market value of $269...