Al Baraka Banking Group has topped the list of nine Bahrain-based Islamic banks with total assets of $101.6 billion, according to statistics released by the Banker Magazine.

Al Baraka, with assets estimated at about $14 billion and a capital of $1.75 billion, has been ranked sixth among the 84 Arab banks that have been listed among the top 1,000 banks worldwide.

The 84 Arab banks’ assets reached $1.5 trillion by end of last year, a seven per cent increase over the previous year.

They also raised their capital by 11 per cent to $153 billion, but lost $2 billion during the comparative period, registering net profits of $22 billion, due to global financial downturn, Arab Banking Corporation president Adnan Ahmed Yousef told our sister paper Akhbar Al Khaleej. – TradeArabia News Service