Explore the vibrant banking scene in the United Arab Emirates, highlighting organizations that support innovation and stability in the financial sector. These banks serve the various needs of people and companies throughout the Emirates and are considered to be the top banks in UAE.
A Look at the Top 10 Leading Banks in UAE
First Abu Dhabi Bank
This bank was formed in 2017 when both the (NBAD) National Bank of Abu Dhabi and (FGB) First Gulf Bank joined to establish what became the largest bank in the UAE. First Abu Dhabi Bank has its main office located in Abu Dhabi. It offers numerous services, including retail, corporate, private, and Islamic banking.
Emirates NBD
Emirates NBD was established in October 2007 by merging Emirates Bank International (EBI) and the National Bank of Dubai (NBD). Its main office is located in Dubai. The bank operates through several business units and offers numerous services to its clientele, including Islamic banking, investment banking, mortgages, etc.
Abu Dhabi Commercial Bank (ADCB)
In 1985, three banks merged to form ADCB, with the government of Abu Dhabi owning 65% of the company. Its main office is located in Abu Dhabi. The bank offers retail, commercial, Islamic, and financial services through its many business areas, with a total asset value of around $70.32 billion.
Dubai Islamic Bank
Dubai Islamic Bank was established in 1975. It is one of the biggest Islamic banks in the UAE and was also the first Islamic bank to incorporate Islamic values into its banking procedures. The bank operates in numerous business categories, such as treasury, real estate development, corporate banking, and consumer banking.
Union National Bank
Founded in 1982, Union National Bank is a prominent local bank with its headquarters located in Abu Dhabi. The governments of Dubai and Abu Dhabi jointly own the bank. The bank offers numerous financial services and products to numerous entities in the UAE.
Abu Dhabi Islamic Bank
This bank first opened for business on May 20, 1997, and it is a public Joint Stock Company. The bank offers corporate, private, business, and personal banking services while adhering to Shariah. Its main office is located in Abu Dhabi.
National Bank of Ras Al-Khaimah (RAKBANK)
The bank was established in 1976, and 52.8 percent of the bank is owned by the Ras Al-Khaimah government. The bank offers both commercial and retail services to businesses and people in the UAE.
National Bank of Fujairah
This is a commercial bank that was established in 1982, and its main office is located in Fujairah, UAE. During the 2017 Banker Middle East UAE Product Award, the Bank and its subsidiary won multiple awards, one of which was the Best SME Internet Banking Service.
Mashreq Bank
Mashreq Bank is the biggest and oldest privately held premier bank in the UAE. It was established in 1967 and is an HSBC Bank associate firm. Across the world, Mashreq Bank is well-represented in Bahrain, Egypt, Kuwait, and Qatar.
Commercial Bank of Dubai (CBD)
The Commercial Bank of Dubai was established in 1969, and it has a headquarters located in Deira, Dubai. In addition to other financial support services, the bank offers corporate, commercial, personal, Islamic, and other banking services.
Takeaways
The banking industry in the UAE is evidence of the country’s economic vitality and importance on a worldwide scale. These ten banks in UAE are still setting the bar for banking standards both domestically in the Emirates and globally.
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