Riyadh-Mubasher: Saudi Arabia ranked first among Arab countries with eight banks among the list of 250 safest banks in the world, Al-Jazirah newspaper reported, citing Wissam Fattouh, Secretary General of Union of Arab Banks (UAB).
The UAE followed with seven banks, and then Kuwait with two lenders. Bahrain, Qatar and Jordan have one bank each on the list.
Assets of Arab banks increased by 7% to $3.3 trillion during the first nine months of 2015, representing 135% of Arab economy, the UAB unveiled.
Deposits increased to $2.1 trillion, or 85% of Arab economy, while loans reached $1.7 trillion, representing 67% of the overall economy.
