The top bank is Al Rajhi Bank, with a market value of $96.6 billion, followed by Saudi National Bank worth $68.2 billion.

The list is based on the reported market value of financial institutions in the Middle East that are listed on Arab stock exchanges or indexed firms as of February.

The Saudi banks on the list experienced a 25% annual increase in accumulative market value.

The given text discusses the Forbes' list of the 30 most valuable banks in the Middle East, which excludes subsidiaries of other listed companies.

The index, which covers seven markets, revealed that these 30 banks had a combined value of $581.1 billion, representing a 14% increase over the last 12 months.

The Gulf Cooperation Council region dominated the ranking with 26 of the 30 banks based there.

This was due to the region's banking sector showing resilience over the last year, supported by higher interest rates and oil prices.

The UAE followed the Kingdom with seven entries at a market value of $128.7 billion, while Qatar placed third with six entries worth $73.6 billion.

Abu Dhabi Bank ranked third in a list of the UAE's top 30 banks with a market value of $41.5 billion.

The top three banks in the ranking held a combined market value of $206.3 billion, which represented over 35% of the total worth of the 30 banks.