Top 5 Banks in UAE

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 themselves. Once 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 them as the best emirate in the country. Banks all over the country are doing well, and they have been improving year after year.

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 Emirates NBD. 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.

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.

The 4^th bank on the list is another Abu Dhabi bank, First Gulf Bank. 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 is the 5^th 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%.

The banking sector in the U.A.E. sees tough competition among banks from Abu Dhabi and Dubai. It is possible to avail of Internet banking for all banking accounts in every one of these banks. Banks like First Gulf Bank, NBAD and ADCB also allow people to put money in fixed deposits. Every bank has a series of gold and platinum credit cards, and based on which card you have, you can avail of a number of discounts and offers. Certain bank debit cards can also give you certain discounts at stores. These banks are well equipped whether you want a savings account or a current account. 

Dubai Islamic Bank is by far the most unique bank, 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.

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