The United Arab Emirates is world-renowned for many things. It is famous worldwide for its modern cities such as Dubai and Abu Dhabi and is also known for crude oil. The UAE is a country with some of the best financial institutions. This guide will help you to find the best bank in the UAE. The central bank of the UAE is the UAE Central Bank. The central bank of the UAE is responsible for primary financial regulations. There are a total of 26 foreign banks, 23 local banks, and 8 Islamic banks operating in the UAE. The banking sector of the UAE got dominated by five large or big banks. We’ll discuss those banks in detail in this guide. Moreover, this guide will help you to find the most suitable bank according to your need.
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List of Banks in the UAE!!
Emirates NBD is formally known as the National bank of Dubai. Later the bank got merged with Emirates Bank International (EBI) to form the Emirates NBD. Emirates NBD is one of the largest banking groups in the whole Middle East. The bank has its presence in most of the countries around the globe. Currently, the bank has more than 250+ branches operational in the UAE and other parts of the world as well. The bank has its Headquartered in Dubai and has more than 10,000 employees working in the bank. The bank operates in various business segments to offer flexibility and to provide ease in banking services. They offer services like Wholesale banking, Islamic banking, Information Technology, and Operations.
The First Abu Dhabi Bank is the largest in the United Arab Emirates, founded back in 2017. First Gulf Bank and National Bank of Abu Dhabi got merged to form the First Abu Dhabi Bank (FAB). The FAB is also known to be one of the safest and the largest banks in the world. The bank offers many different products and services for each category of customers. The bank has its presence in several countries in the Asia Pacific, such as London, Singapore, India, Qatar, and several countries. It has the largest market capitalization among all the other UAE banks. The bank employs more than 12,000 people around the world.
Dubai Islamic Bank is the largest Islamic bank in the United Arab Emirates and the second largest in the world. Headquartered in Dubai city of UAE, the bank came to existence in 1975. The Dubai Islamic Bank is the world’s first full-service operational Islamic Bank. In the UAE only, the bank has around 90 branches. The bank serves to almost 1.7 million customers worldwide. The bank is present in seven different countries as well. The bank operates in several popular business segments like Consumer Banking, Corporate Banking, Real Estate Development, Treasury, and Other business segments.
The Abu Dhabi Commercial Bank is a commercial bank in UAE, founded in 1985. The ADCB is a government-run bank where the majority of shares (around 62%) are own by the UAE government. It is the third-largest bank in the UAE and has its headquarters in Abu Dhabi. The bank has a staff of around 17,000 employees. It has 56 branches in the UAE and one branch in Jersey. The bank also operates in Singapore and London. Recently, the Union National Bank and the Al Hilal Bank have got merged in the Abu Dhabi Commercial Bank.
The Mashreq Bank is a private bank and one of the oldest banks in the United Arab Emirates. The bank has its headquarters in Dubai, UAE, and founded in 1967 as Bank of Oman. It is the first bank in the UAE to issue debit and credit cards, and also the first bank to introduce consumer loans. It has 45 domestic branches and 20 international branches. The bank is present in Egypt, Qatar, Kuwait, and Bahrain. The staff of around 4000 employees is working in the bank.
The Abu Dhabi Islamic Bank is a private and the Islamic bank. It has its headquarters in Abu Dhabi, UAE, founded back in 1997. The bank has a staff of 2000 employees working in around 69 branches nationwide. The bank operates in the different banking segments like Global Retail Banking, Global Wholesale Banking, Private Banking, Treasury, Real Estate, and Others. The bank is also present in Egypt, Iraq, Saudi Arabia, and the UK.
The Comercial Bank of Dubai is a public bank headquartered in Dubai, UAE. The bank has a network of around 26 branches nationwide, founded back in 1969. Commercial Bank of Dubai is a small bank, and it plays strategical importance in the banking sector of the UAE. The bank offers a range of retail banking, commercial banking, and financial banking.
The RAKBANK is also known as the National Bank of Ras Al-Khaimah (P.J.S.C). The bank serves around 700,000 customers nationwide with a network of 38 branches. The RAKBANK is the best bank in UAE in terms of Return On Assets. The bank provides retail and commercial banking services to individuals and businesses in the UAE. The business operates through five segments: Retail Banking, Wholesale Banking, Business Banking, Treasury, and Insurance Business.