Top Banks in Bahrain

The banking system in Bahrain consists of conventional and Islamic financial institutions including 29 retail banks, 70 wholesale banks, 2 specialized banks as well as branches and representative offices of foreign banks. The banking industry is regulated by the Central Bank of Bahrain (CBB). The consolidated assets of banking sector exceed US$160 billion. Below is a list of the largest and best banks in Bahrain.

Gulf International Bank

Gulf International Bank (GIB) is the largest bank in Bahrain by assets. It provides retail and wholesale banking, investment banking, asset management and treasury services. GIB is owned by Public Investment Fund of Saudi Arabia (primary shareholder) and by the governments of GCC countries through Qatar Holding, Kuwait Investment Authority, Bahrain Mumtalakat Holding, Emirates Investment Authority, and State General Reserve Fund (Oman). The Bank’s total assets reached $46 billion as of June 30, 2024.

Arab Banking Corporation

Arab Banking Corporation (known as Bank ABC) is the second largest bank in Bahrain. It provides a broad array of products and services including retail and corporate banking, project & structured finance, syndications, treasury and trade finance services, foreign currency exchange as well as Islamic banking. Retail banking is only provided in the Middle East and North Africa region. As of June 2024, ABC had total assets of $44 billion.

Ahli United Bank

Ahli United Bank (AUB), headquartered in Manama, is the third largest bank in Bahrain with assets of $27.5 billion. The company's business segments are retail banking, private banking & wealth management, corporate banking & treasury and Islamic banking. AUB employs 4,200 people and offers current accounts and savings plans, time deposits, savings certificates, personal and auto loans, credit cards, mortgage and real estate services, investments, offshore and private banking, structured and property finance, trade finance, internet banking and more.

Al Baraka

Al Baraka Group (ABG), founded in 2002, is the fourth largest bank with consolidated assets of US$26 billion. The company’s shares are traded on the Bahrain Stock Exchange and NASDAQ. With 10,700 employees, it operates through over 600 branches in the Middle East, Asia and Africa including Jordan, Morocco, Turkey, Algeria, Tunisia, South Africa, Sudan, Pakistan, Lebanon, Egypt, Syria, Iraq, Indonesia, Libya and Saudi Arabia. In 2018 ABG launched Islamic digital bank in Germany. It would be the main strategy to enter a new continent.

Al-Salam Bank

Al Salam Bank B.S.C. is an Islamic financial institution licensed by the Central Bank. It offers retail, corporate and private banking, online banking, investment and treasury services in Gulf Cooperation Council countries. Al-Salam is listed on Bahrain Bourse and Dubai Financial Market. It has 10 branches in the Kingdom as well as Seychelles subsidiary (Al Salam Bank-Seychelles Ltd). As of September 30, 2024, ASB reported total assets of over $18 billion. In the second quarter 2024, it acquired 100% shareholding in Kuwait Finance House Bahrain (KFHB).

National Bank of Bahrain

National Bank of Bahrain (NBB), headquartered in Manama, provides retail, wholesale and investment banking services. It was founded in 1957 and was the first locally owned bank in Bahrain. The company operates through an extensive network consisting of over 25 branches and 60 ATMs, including Abu Dhabi branch and Riyadh branch. NBB’s primary shareholder is Bahrain Mumtalakat Holding, which owned by the Government of Bahrain.

BBK

Bank of Bahrain and Kuwait (BBK) is one of the leading commercial banks in the country. As at September 30, 2024, it reported total assets of $11 billion and deposits of $6.5 billion. BBK has branches and representative offices in Kuwait, UAE, India and Turkey. The company was established in 1971 and is headquartered in Manama. BBK's major shareholders are Social Insurance Organization, Fincorp WLL and Kuwait Investment Authority (2024). A merger between Bank of Bahrain & Kuwait (BBK) and National Bank of Bahrain (NBB) is expected to be completed in 2025.

Ithmaar Bank

Founded in 1982, Ithmaar Bank B.S.C. is a trusted Islamic retail bank licensed and regulated by the Central Bank of Bahrain. It operates through 16 commercial branches and provides a diverse range of Sharia-compliant products and services to individuals and institutions. In 2018, Ithmaar Bank and Eazy Financial launched the first biometric payments network in region. The Bank’s consolidated assets totaled $6.5 billion as of September 2024.

Khaleeji Bank

Founded in 2004, Khaleeji Bank B.S.C. (formerly Khaleeji Commercial Bank (KHCB)) is one of the leading Islamic banks offering unique and innovative products and services to consumers, high net worth individuals, corporates and financial institutions. The company operates mainly from Bahrain and does not have overseas branches. KHB is listed on Bahrain Stock Exchange and Dubai Financial Market. As of March 2024, the Bank’s total assets reached approximately $3.8 billion.

Bahrain Islamic Bank (BisB)

Incorporated in 1979, the company is the first Islamic bank in the country and the fourth in the GCC. For the year ended December 31, 2023, the Bank's total assets amounted to $3.6 billion. BisB operates a network of eight branches including four financial malls and 45 ATMs nationwide.

Investcorp

With approximately US$53 billion in assets under management (AUM), Investcorp is one of the leading alternative investment groups serving high net worth private and institutional customers. The company employs about 400 staff and maintains offices in London, New York, Bahrain, Singapore, Abu Dhabi, Doha and Riyadh. In 2018, Investcorp acquired over 40% stake in PBS, a Swiss private bank.

United Gulf bank

United Gulf Bank B.S.C. (UGB), founded in 1980, offers investment and corporate banking, asset management, private equity and brokerage and treasury services. UGB’s assets under management totaled approximately $14 billion as of December 31, 2023. United Gulf Holding Company (UGHC) owns 100% shares of the Bank. UGHC is a subsidiary of the KIPCO Group (Kuwait Projects Company Holding), one of the largest investment companies the Middle East and North Africa.