The United Arab Emirates is rapidly evolving into a financial hub of the Middle East. Banks, financial institutions and insurance service providers cater to the demands of an ever growing heterogeneous population. Banks in particular offer a myriad of perks to its customers all year round – enabling everyone to pursue their ambitions.

In this blog, we look in terms of products offered, customer service, accessibility and technology.

Top 6 Banks in UAE

1. Emirates National Bank of Dubai (ENBD)

Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Turkey) region with a presence in 13 countries, serving over 17 million customers. As at 31st December 2022, total assets were AED 742 billion, (equivalent to approx. USD 202 billion). The Group has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 879 branches and 4,130 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.6 billion.

Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv., the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.

Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is also an early supporter to Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.

A wide range of products on offer and countrywide access to services.

2. Abu Dhabi Commercial Bank (ADCB)

Abu Dhabi Commercial Bank (ADCB) was formed in 1985 as a public shareholding company with limited liability, following the mergers between Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which was established in 1975. The Government of Abu Dhabi through the Abu Dhabi Investment Council (ADIC) holds 62.52% of ADCB shares; the remainder is held by other institutions and individuals. ADCB is the third-largest bank in the UAE in terms of balance sheet size and offers a range of commercial and retail banking services to its customers.

What’s Unique About Them

Exceptional customer service

3. Dubai Islamic Bank

The Dubai Islamic Bank (DIB) is an Islamic bank in Dubai, established in 1975 by Saeed Bin Ahmed Lootah. It is the first Islamic bank in the world to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint-stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full-service Islamic bank and the third-largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia-compliant products and services.

4. Standard Chartered

Standard Chartered plc is a British multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East.

Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. Its largest shareholder is the Government of Singapore-owned Temasek Holdings. The Financial Stability Board considers it a systemically important bank.

5. Abu Dhabi Islamic Bank (ADIB)

Abu Dhabi Islamic Bank, A Public Joint Stock Company,  is a leading Islamic bank headquartered and listed in Abu Dhabi- UAE with a purpose of being a lifelong partner for customers, colleagues and community. Over the last two decades, ADIB has demonstrated a consistent track record of growth with assets now totaling USD 34 billion.

The bank currently serves more than 1 million customers through a balanced proposition that combines a highly-personalized customer experience with world-class digital banking services.

ADIB is a full-fledged financial service provider that offers banking solutions for individuals, corporates and affluent customers. In addition, the wider ADIB Group provides brokerage, real estate and property management, payments and insurance services.
ADIB has one of the largest distribution networks in the UAE with more than 60  branches. 

Internationally, the bank has a presence in six strategic markets - Egypt, , the Kingdom of Saudi Arabia, the United Kingdom, Qatar, Sudan and Iraq.

What’s Unique About Them

Combines Islamic finance with contemporary banking solutions to meet the needs of customers.

6. Mashreq Neo

Mashreq Neo is a bank for a brilliant new world. A bank that answers the day-to-day needs of a world on the move. Where people want convenience, not queues. And choice, not limits. Designed to fit your lifestyle, it’s a bank that lets you sign up in an instant, pay with a tap, make investments on the move and change your rewards to suit your mood. Intuitive and personalised, it’s a bank that revolves around you and evolves at your speed.

What’s Unique About Them

A full-fledged bank in an app that holds green credentials, saves time and offers plenty of rewards and cashbacks to its customers.

The banking sector in UAE is growing at an unprecedented rate, but there are only a few that can live up to the billing of the perfect bank. Emirates National Bank of Dubai (ENBD), Abu Dhabi Commercial Bank (ADCB), Dubai Islamic Bank (DIB), Abu Dhabi Islamic Bank (ADIB), and Mashreq Neo are our top picks.