UAE has been a commercial hub attracting investors and entrepreneurs to its competitive business environment. The interest of investors and businessmen in the UAE has made it a financial pivot. And when it comes to finances, you look for the best banks in UAE.
We have here the list of the top 10 banks in UAE. These top 10 best banks in UAE will make your financial matters super easy to handle. We will not waste your time. Let’s take you directly to this list!
List of Top 10 Banks in UAE 2023
- Emirates National Bank of Dubai (ENBD)
- Abu Dhabi Commercial Bank (ADCB)
- Abu Dhabi Islamic Bank
- First Abu Dhabi Bank
- Mashreq Bank
- Dubai Islamic Bank
- Commercial Bank of Dubai
- RAK Bank
- Standard Chartered Bank
- National Bank of Fujairah
1- Emirates National Bank of Dubai (ENBD)
Emirates NBD is the largest bank in Dubai which is the result of a merging of Emirates Bank International with the National Bank of Dubai. It was founded in 2007. This bank is the largest network in UAE with 225 branches and 1079 ATMs and SDMs in UAE. The bank is offering its services in different business segments.
- Total Assets: AED 687 billion (As of Dec 2021)
- Net Profit: AED 5.247 billion (As of 2021)
2- Abu Dhabi Commercial Bank (ADCB)
It would not be wrong to call ADCB one of the banking giants in the UAE. ADCB has its headquarters in Dubai. The bank is on second number on the list of top 10 banks in UAE due to the efficient services it is providing in different business sectors. These include Islamic banking, retail, financial and commercial services.
The bank’s unique services include offshore accounts that help you manage your assets in different currencies.
- Total Assets: AED 440.278 billion (As of 2021)
- Net Profit: AED 91.575 billion (As of 2021)
3- Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank was established in 1997 having its headquarters in Abu Dhabi. The bank is one of the Shariah-compliant lenders. Its banking services extend to private, business, and corporate sectors. Abu Dhabi Islamic Bank has a remarkable overseas presence in Iraq, the UK, Saudi Arabia, and Egypt.
The unique services of the bank include global transaction banking. It allows you to manage your capital effectively on a domestic as well as a global level.
- Total Assets: AED 136.9 billion (As of 2021)
- Net Profit: AED 2.33 billion (As of 2021)
4- First Abu Dhabi Bank
The next on the list of the top 10 banks in UAE is the First Abu Dhabi Bank. This bank is a consequence of merger a merger that took place in 2017 between First Gulf Bank and the National Bank of Abu Dhabi. You can find its headquarter in Abu Dhabi. The services this bank is providing include private, retail, Islamic banking, and corporate services.
- Total Assets: AED 1000 billion (As of 2021)
- Net Profit: AED 12.5 billion (As of 2021)
5- Mashreq Bank
Next comes the Mashreq Bank, which is one of the best banks in the UAE. Founded in 1967, this bank’s headquarters are in Dubai. You can call Mashreq the largest and oldest bank which is privately owned in UAE.
Mashreq provides you the investment banking, commercial, and retail services. The interesting fact about this bank is that it is the first bank in UAE that introduced consumer loans, installed ATM dispensers, and issued debit cards.
- Total Assets: AED 177 billion (As of June 2021)
- Net Profit: AED 1 billion (As of 2021)
6- Dubai Islamic Bank
As the name suggests, Dubai Islamic Bank was founded to utilize Islamic principles in banking practices. You can call it the largest Islamic Bank as it is completely based on Islamic financial principles. They have a wide variety of innovative products designed according to Shariah law. The business segments of the bank include corporate banking, consumer banking, treasury, etc.
- Total Assets: AED 279.1 billion (As of 2021)
- Net Profit: AED 4.406 billion (As of 2021)
7- Commercial Bank of Dubai
Another best bank in UARE is the commercial bank of Dubai which was established in 1969. The bank’s headquarters are situated in Deira, Dubai. The bank’s services include Islamic banking, corporate banking, personal banking, and financial support services.
- Total Assets: AED 114.2 billion (As of June 2021)
- Net Profit: AED 1.45 billion (As of 2021)
8- RAK Bank
Next comes the RAK bank which has a total of 33 branches in UAE. A part of this bank is owned by the government while the rest is private. RAK Bank has performed so well that it got many awards in the past years. It got awards for its best internet banking and SME banking.
- Total Assets: AED 56.303 billion (As of Dec 2021)
- Net Profit: AED 0.7583 billion (As of 2021)
9- Standard Chartered Bank
Standard Chartered is the best international bank in UAE which has branches all across the globe. Founded in 1958, this bank will serve you both conventionally and with Islamic banking.
Priority banking is a unique service provided by Standard Chartered Bank. It allows you to earn cashback of up to AED 700 by availing of the banking services as a priority.
- Total Assets: AED 48 billion (As of 2021)
- Net Profit: AED 9.3 billion (As of 2021)
10- National Bank of Fujairah
The position the National Bank of Fujairah has attained in the past few years in the UEA financial sector is remarkable. The bank was recognized for its best customer service for investment and corporate banking at the Banker product awards held in 2017.
NBF EIHAM is the bank’s unique service which offers specialized banking facilities to Emirati Women. Tasered prepaid card is another unique product of this bank that provides you with an efficient way of making payments for government services.
- Total Assets: AED 44.4 billion (As of 2021)
- Net Profit: AED 211.7 million (As of 2021)
These were the best banks in UAE that made it to be on the top 10 list. All these banks are serving their customers with the best of their services. The bank you should choose depends entirely on your needs. Identify your needs and find out they align with which of the best banks in UAE. Have a wonderful banking experience!