The United Arab Emirates is made up of 7 different emirates.
Even though all 7 are united to form one country on a world
map, the Emirates are generally very competitive amongst
Dubai made the tallest flagpole, Abu Dhabi made the largest
flag. These small competitions are always taking place, but
banking is especially competitive.
Each emirate is trying to make more money than the other,
and want to promote themselves as the best emirate in the
country. Banks all over the country are doing well, and they
have been improving year after year.
Emirates NBD bank
As of 2013, the best bank in the U.A.E. is the Emirates NBD
bank. There was a merger between the National Bank of
Dubai (NBD), and Emirates bank, which then formed
This is a bank from Dubai, and at the end of 2012, their net
assets were over 83 Million USD. They experienced a growth
rate of 8.31% in the year, and the net profit from just 2012
was 695,350 USD.
National Bank of Abu Dhabi
Coming in a close second, with assets of around 82 Million
USD is the National Bank of Abu Dhabi, or NBAD.
While the net assets were less than that of NBD, they
experienced a growth rate of 17.56%, and made a net profit
of over 1 Million USD.
Abu Dhabi Commercial Bank (ADCB) came in third, with their
total assets at the end of 2012 amounting to a little over 49
Million USD, and a growth rate of 3.33%.
The net profit made in the year was 765,133 USD.
First Gulf Bank
The 4th bank on the list is another Abu Dhabi bank, First Gulf
This bank saw a growth rate of 11.13%, and at the end of the
year, their assets amounted to over 47 Million USD. The net
profit made in just one year was 1,130,956 USD.
Dubai Islamic Bank
Dubai Islamic Bank is the 5th top bank in U.A.E. This bank
from Dubai is the only bank in the U.A.E., which follows
Sharia law completely and does not charge interest.
At the end of 2012, the bank’s net assets were worth nearly
26 Million USD, and the bank saw a growth rate of 5.27%.
Look at their banking services
The banking sector in the U.A.E., sees stiff competition
among the banks from Abu Dhabi and Dubai.
All these banks provide Internet banking for all banking
accounts. Banks like First Gulf Bank, NBAD and ADCB also
allow people to put money in fixed deposits.
These banks have a series of gold and platinum credit
cards, and based on these cards, you can avail a number of
discounts and offers.
Certain bank debit cards can also give you some discounts
They offer a variety of accounts like current account, savings
account, NRI etc.
Dubai Islamic Bank has the most unique feature, with
services just for ladies, and a salary-in-advance option. The
bank has a dedicated service for remittance to Pakistan, and
is deemed one of the most ethical banks in the Middle East.
No matter which emirate the banks are from, banking
in general in the country has seen a definite
improvement since the economic slump of 2008.
Look at their services as per your requirement and
choose the best one for you. Hope this article can help