Top Banks in Bahrain
Meet the top 10 banks
Meet the top 10 banks
There are more than 114 banks in Bahrain, including 23 retail banks, 69 wholesale banks, 2 specialized banks, as well as 36 representative offices of overseas banks. The country’s banking system consists of Islamic banks and conventional banks. Bahrain is the financial hub of the Middle East. The Central Bank of Bahrain (CBB) regulates the banking and insurance sectors in the country. The legal, regulatory, and accounting systems in Bahrain’s financial sector are transparent and consistent with international standards.
According to Moody’s, Bahrain’s banking system is negative, due to the government debt burden and to debt affordability, which is expected to deteriorate significantly in the next two to three years.
For anyone considering a career in banking in Bahrain, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.
Ahli United Bank is one the largest banks in Bahrain and is located in Manama. Founded in 2000, it provides retail, commercial, Islamic, investment, and private banking products and services. The bank operates 110 branches, which includes 22 branches in the Kingdom of Bahrain, 38 in the State of Kuwait, 37 in the Arab Republic of Egypt, 11 in the Republic of Iraq, and 1 in the United Kingdom.
As of 2016, the bank’s total income was US$1.1 billion and total assets were US$31.32 billion.
Established in 1980, Arab Banking Corporation provides wholesale banking services in the Middle East, North Africa, Europe, the Americas, and Asia. Headquartered in Manama, the bank employs around 344 individuals.
In 2016, the bank reported a total income of US$865 million and total assets of US$16.82 billion.
The Albaraka Bank Group was founded in 2002 and is into retail, corporate, and investment banking, and treasury services. The bank functions according to the principles of Sharia law and is present in 15 countries, including Saudi Arabia, Jordan, Indonesia, Pakistan, Turkey, Lebanon, Tunisia, Algeria, South Africa, Sudan, Egypt, Iraq, Libya, and Syria.
The bank currently employs 12,644 staff and manages 697 branches worldwide. As of 2016, the bank’s total income amounted to US$507 million and total assets reached US$23.42 billion.
Established in 1976, Gulf International Bank offers wholesale commercial, asset management, and investment banking services worldwide. The bank operates through four segments: Wholesale Banking, Treasury, Asset Management, and Financial Markets. It employs around 7,700 employees and is headquartered in Manama.
In addition to its main subsidiaries, London-based GIB (UK) Ltd. and Riyadh-based GIB Capital LLC, it manages several branches in London, New York, Abu Dhabi, Dhahran, Riyadh, and Jeddah, and has a representative office in Dubai.
As of 2016, the total income of the bank was US$300 million and total assets were US$22.91 billion.
Founded in 1991, Bahrain Development Bank provides financial services customized to meet the needs of small and medium businesses in Bahrain. It is headquartered in Manama.
The bank employs 203 individuals and is also present in Sweden, Denmark, Finland, and Norway, through 110 branches.
As of 2016, the bank’s total income reached US$10 billion and total assets amounted to US$211.33 billion.
Ithmaar Bank was founded in 1984. It is an Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain. The bank provides retail, commercial, treasury, institutional, and other banking services.
Ithmaar Bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. (formerly named Ithmaar Bank B.S.C.).
It is headquartered in Manama and currently employs around 700 staff. In 2016, the bank reported a total income of US$425.8 million and total assets of US$8 trillion.
Established in 1957, the National Bank of Britain is the country’s first indigenous bank. It operates 26 branches and is present in locations such as Abu Dhabi and Riyadh. It provides retail and wholesale commercial banking, treasury and investment services, and investment advisory services. As of 2016, the total income of the bank was US$257.01 million and total assets were US$7 billion.
The bank was founded in 1967 and is into providing banking and financial services to customers. The bank is a branch of Al Mashrek Bank UAE.
Investcorp was established in 1982. Headquartered in Manama, the company manages alternative investment products for institutional and private clients. It is a private equity and venture capital firm specializing in investments in buyouts, emerging growth, late venture, and later stage companies. It invests in small and medium sized companies and family-owned businesses, and also makes large investments in mostly illiquid asset classes such as corporate and commercial real estate equity and high-yield debt investments. The firm typically invests in the industrial, retail, consumer products, and technology sectors within the European region.
Founded in 1997, Arcapita is headquartered in Manama, Bahrain. It provides capital to growth-oriented corporate acquisitions. It also specializes in buyouts. It seeks to invest in consumer, healthcare, energy, business services, industrial, technology, and manufacturing sectors. However, target acquisitions are not necessarily sector-specific.
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This has been a guide to the top banks in Bahrain. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: