The UAE is known for its booming economy and impressive financial sector, and in this blog, we’ll introduce you to the top 10 banks in the country.
The banking industry in the UAE has grown rapidly, attracting local and international banks. These top banks have proven themselves by offering excellent services, being innovative, and making their customers happy. It’s important to understand the banking landscape in the UAE, whether you’re a resident, an expatriate, or a business looking to establish a presence here.
Whether you’re interested in personal banking, like savings accounts or loans, or you want to learn about corporate solutions and digital banking innovations, you’ll find a bank that suits your needs on this list of 10 banks in the UAE.
First Abu Dhabi Bank (FAB)
Established in 2017 through the merger of the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), FAB is the Largest bank in the UAE by total assets. They cater to clients worldwide, from personal banking to corporate and investment banking.
FAB provides expertise, financial strength, and global connections to support local and international businesses at home and abroad. They also offer conventional accounts, cards, and financing alongside Islamic counterparts like Sharia-compliant accounts and cards for cars, homes, and more. You can earn rewards through their Islamic rewards program and FAB Etihad Guest Islamic Miles program.
When it comes to financial stability, FAB sets the bar high. Their Aa3 rating from Moody’s, AA- rating from S&P, and AA- rating from Fitch rank them among the most creditworthy banks in the MENA region.
The “Grow Stronger” movement embodies this commitment, providing them with tools, expertise, and resources to achieve their goals and ambitions.
Services Offered:
- Bank Accounts
- Current Accounts
- Savings Accounts
- Accelerator
- Invest
- Global Investment Funds
- Our Investment Funds
- Structured Products
- Custody
- Securities Brokerage
- Security Prices Information
- Cards
- Credit Cards
- Prepaid Cards
- Card Offers
- SlicePay
- Money Transfer and Exchange
- Aani Instant Payments
- Digital Remittances
- Foreign Exchange
- Loans
- Personal Loans
- Car Loans
- Loans Calculator
- Mortgages
- First Time Homeowner
- Existing Homeowner
- Mortgage Calculator
- Elite Banking
- Elite Client
- Elite World Client
- Elite Branches
Emirates NBD
Emirates NBD was formed in 2007 due to the merger between Emirates Bank International and the National Bank of Dubai. The bank is owned by the Investment Corporation of Dubai, a sovereign wealth fund of the Government of Dubai. With a workforce of over 14,000 employees, Emirates NBD operates on a significant scale.
It is the market leader in the UAE banking sector, holding the largest market share in the country. The bank has consistently demonstrated strong financial performance, with a profitability and growth track record.
In addition to its strong presence in the UAE, Emirates NBD operates in over 13 countries, including significant markets such as Egypt, India, Turkey, and Saudi Arabia. The bank has received numerous awards and recognition for its excellence in innovation, customer service, and sustainability, further solidifying its reputation as a leading banking institution.
Services Offered
- Accounts
- Standard Current Account
- Special Current Account
- Savings and Deposit Accounts
- Gold Investment Account
- Value Account
- Banking Packages
- Emirati Package
- Cards
- Credit Cards
- Debit Cards
- Prepaid Cards
- Salary Prepay Card
- Commercial Cards
- Rewards
- Contactless payments
- Balance Transfer
- Loan on card
- Loan on a card beyond the credit limit
- Promotions
- Loans
- Personal Loans
- Auto Loans
- Home Loans
- Overdraft
- Foreign Exchange
- DirectRemit
- Western Union
- Foreign Currency Cash
- mePay
- Aani – Instant Payments Service
Abu Dhabi Commercial Banks
Abu Dhabi Commercial Bank (ADCB) is another significant financial institution in the United Arab Emirates (UAE). It offers various services to individuals and businesses, including retail banking, wealth management, corporate banking, and investment banking. ADCB was established in 1985 through the merger of three banks and is listed on the Abu Dhabi Securities Exchange.
In 2019, ADCB merged with Union National Bank and Al Hilal Bank, making it the fifth-largest bank in the region and serving around 1 million customers.
ADCB provides a diverse range of financial products and services. These offerings include retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange services, interest rate and currency derivatives, Islamic products, project finance, and property management services.
Services Offered
- Cards
- Debit Cards
- Credit Cards
- Loans
- Car Loans
- Home Loans
- Personal Loans
- ADCB For You
- Emirati
- Emirati Excellency
- Excellency
- Privilege Club
- Aspire
- Hayyak
- TouchPoints
- Service Guarantee
- Accounts
- Current & Savings Account
- Etihad Guest Accounts
- Fixed Deposit Account
- Offshore
- Business Accounts
- Safe Deposit Locker
- Money Transfer
Click here to view Business products and services.
Emirates Islamic Bank
Emirates Islamic was launched in 2004, and it is a bank that follows the principles of Islamic finance. They offer various banking products and services for individuals, small businesses, and large corporations. Their approach is customer-centric and committed to delivering the best financial solutions.
They operate based on Islamic legal concepts, which emphasise risk-sharing and prohibit the charging of interest (ribba). Instead of fixed returns, they focus on profit and loss sharing, ensuring that all parties involved in financing business ventures share the risks and rewards. This approach promotes a more equitable distribution of income and wealth.
Regardless of individuals’ or businesses’ financial needs, Emirates Islamic aims to offer tailored solutions. Their vision is to be the most innovative Shariah-compliant bank, creating prosperous opportunities for their customers, people, and communities.
Services Offered
- Accounts
- Current Accounts
- Savings Accounts
- Deposit Accounts
- Cards
- Etihad Guest Credit Cards
- Emirates Skywards Cards
- Cashback Cards
- Rewards & Lifestyle
- Finance
- Personal Finance
- Home Finance-Manzili
- Auto Finance
- Home Finance Bina’a
- Commercial Property Finance
- Mohammad Bin Rashed Housing Establishment
- Priority Banking
- Business Banking
- Corporate Banking
- Emarati First
Dubai Islamic Bank (DIB)
Dubai Islamic Bank is more than a conventional bank. It represents the values of morality,
equality, and transparency, reflecting the modernity, diversity, and growth of the city of Dubai. The bank was established with the authorisation of a decree issued by H.H. Shaikh Rashid bin Saeed Al Maktoum on March 12th.
It holds the distinction of being the first Islamic bank worldwide to integrate the principles of Islam into all its operations. As the largest Islamic bank in the United Arab Emirates, Dubai Islamic Bank has played a pivotal role in shaping the Islamic finance industry. With its foundation rooted in Islamic principles, the bank has been instrumental in promoting ethical and Shariah-compliant financial practices.
It has consistently strived to provide innovative financial solutions while adhering to the values of transparency and fairness. Over the years, Dubai Islamic Bank has become a trusted institution for individuals and businesses seeking Islamic banking services in Dubai and beyond.
Services Offered
- Accounts
- Al Islami Current Account
- Al Islami 2-In-1 Account
- Al Islami E-Savings Account
- Al Islami Savings Account
- Shaatir Savings Account
- Johara Current Account
- Johara Savings Account
- Al Islami Payroll Account
- Cards
- DIB SHAMS Infinite Credit Card
- DIB SHAMS Signature Credit Card
- DIB SHAMS Platinum Credit Card
- The Emirates Skywards DIB Infinite Credit Card
- The Emirates Skywards DIB Signature Credit Card
- The Emirates Skywards DIB Platinum Credit Card
- Consumer Cashback Platinum Card
- Consumer Cashback Reward Card
- Prime Infinite Card
- Prime Platinum Card
- Prime Signature Card
- Prime Classic and Gold Card
- Infinite and Signature Debit Cards
- Al Islami Classic Debit Card, and more.
- Deposits
- Auto Finance
- Home Finance
- Personal Finance
- Branch Banking
Abu Dhabi Islamic Bank (ADIB)
ADIB is a leading Islamic bank with a strong customer base, both in the UAE and globally. Since its establishment in 1997 as the first Islamic bank in Abu Dhabi, ADIB has experienced consistent growth, with assets now amounting to USD 39 billion. The bank serves over 1 million customers through a personalized approach combined with cutting-edge digital banking services.
It operates through 62 branches and 379 ATMs in the UAE, as well as branches in Egypt, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, Sudan, and Iraq. The bank has gained international recognition, receiving prestigious awards and accolades from renowned global organizations.
It also places a strong emphasis on digital transformation. A significant portion of customers now utilize the bank’s digital channels, and the majority of ADIB’s banking transactions are conducted digitally. The bank has also established a state-of-the-art digital command center, ACE (Analytics Center of Excellence), which uses data and artificial intelligence to enhance operational efficiency, preventive controls, and customer understanding.
Services Offered
- Accounts
- Current Account
- Savings Account
- Ghina Savings Account
- Ghina Salary Account
- Banoon Children’s Savings Account
- Electron Account
- Short Term Investment Account
- Investment Deposit Account
- ADIB Egypt Wasel Account
- ADIB Student Account
- ADIB Salary Bonus Programme
- Amwali
- Smart account
- Cards
- Emirates Skywards Cards
- Smiles Covered Cards
- Etihad Guest Cards
- Exceed Covered Cards
- Cashback Cards
- Booking.com Cards
- ADIB ISIC Pre-Paid Card
- Personal Finance
- Home Finance
- Debt Settlement
- Car Finance
- Electric Vehicle Finance
- Education Finance
- Travel Finance
- Boat Finance
- Goods Murabaha
- ADIB Yusr – Salary Advance Finance
- Business
- Business Elite
- Business Premium
- Business One
- Merchant Account
- Business Connect
Standard Chartered Bank
Standard Chartered is a leading international banking group with a 150-year history in dynamic markets. Operating across Asia, Africa, and the Middle East, the bank is committed to serving the individuals and companies that drive investment, trade, and wealth creation. In the UAE, Standard Chartered has a strong presence, with Dubai serving as its regional hub for the Africa and Middle East region.
The bank offers a comprehensive range of Islamic and conventional banking products and services, catering to retail, private, commercial, and corporate clients. They have a consultative approach to provide exceptional value by understanding each customer’s needs and offering personalized solutions.
As a listed company on multiple stock exchanges, including London and Hong Kong, Standard Chartered demonstrates its global reach and commitment to transparency. Overall, the bank’s mission is to help clients effectively manage their finances while upholding its brand promise of being “Here for good.”
Services Offered
- Accounts
- Saadiq Current Account
- XTrasaver Accounts
- Saadiq Xtrasaver Account
- Fixed Deposits
- Saadiq Term Account
- Credit Cards
- Journey
- Smart Saadiq
- Cashback
- Manhattan Rewards+
- X Credit Card
- Home Loans
- Saadiq Home Finance
National Bank of Ras Al Khaimah (RAKBANK)
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is a well-established and dynamic bank in the United Arab Emirates. With its origins dating back to 1976, RAKBANK is recognized as one of the country’s oldest and most reputable financial institutions.
Headquartered in Ras Al Khaimah, the bank is a public joint-stock company and is listed on the Abu Dhabi Securities Exchange (ADX). RAKBANK offers a comprehensive suite of banking services and has embraced digital innovation with its user-friendly RAKBANK App, providing customers with convenient access to cutting-edge digital banking services, secure transactions, and a range of innovative features.
Committed to building trust, they fully adhere to the UAE Banking Federation’s Customer Charter, providing you with transparent service guidelines for a worry-free banking experience.
Services Offered
- Accounts
- RAKstarter Account
- Business Current Account
- Business Elite Account
- Business Call Account
- Commercial Elite
- Gold Account
- RAKMerchant Account
- Cards
- Business Debit Card
- Business Elite Debit Card
- Titanium Business Credit Card
- Merchant Solutions
- Point of Sale Terminals
- E-commerce Payment Solutions
- Skiply
- SME souk
- Deposit
- Fixed Deposit Plus
- Services
- RAKMoneyTransfer
- SWIFT Code & Remittances
Mashreq Bank
Mashreq is another highly successful bank that has been delivering exceptional performance in the UAE for over five decades. It has established itself as a prominent financial institution, expanding its presence across the Middle East, North Africa, and key international financial centers. With offices in Europe, Asia, Africa, and the US, Mashreq serves as a trusted provider of banking and financial services.
The bank’s focus extends beyond its clients, as it also prioritizes the well-being and development of its employees. Since its inception in 1967, Mashreq has played a significant role in the UAE’s financial landscape, serving millions of customers and businesses.
The bank’s mission, vision, and values drive its operations, with a commitment to delivering excellence across all aspects of its services.
Services Offered
- Mashreq Neo Accounts & Deposits
- Current Account
- Kids Account
- Savings Account
- Community Deposits
- Non-Resident Account
- Multi Currency Account
- Deposits
- Mashreq Millionaire
- Mashreq Al Islami Offerings
- Home loan
- Home Finance
- Personal Finance for Emiratis
- Al Islami Cards
- Emirati Cards
- Solitaire
- NEO Platinum Elite card
- Platinum Elite
Click here to view more.
National Bank of Fujairah (NBF)
Last on the list of top banks in the UAE is the National Bank of Fuijairah. It is a highly respected corporate bank in the UAE, renowned for its exceptional services, deep understanding of local markets, and unwavering dedication to its customers. With a track record of over 30 years, NBF has established itself as the preferred bank for businesses in the UAE, offering comprehensive banking solutions.
NBF has subsidiaries that contribute to its diverse range of services. These include NBF Financial Services FZC, NBF Capital Ltd., and NBF Trade Services (Hong Kong) Ltd., which complement the bank’s offerings and strengthen its capabilities.
The bank has a well-defined structure that includes a board, board committees, management, and risk committees that enables NBF to maintain efficient operations.
Services Offered
- Current Accounts
- Classic Current Account
- Twin Benefit Account
- Savings Accounts
- Savings Basic Account
- Max Saver Account
- Deposit Accounts
- Fixed Deposit
- NBF Preferred
- NBF Ertiqa
- Classic Debit Card
- Platinum Debit Card
- Classic Credit Card
- Platinum Exclusive Credit Card
- Infinite Credit Card
- Tasdeed Prepaid Card
- Offers & Promotions
- Easy Payment Plans
- Pay school fees with NBF
- Personal Loan
- Auto Loan
- Home Loan
Conclusion
In conclusion, the United Arab Emirates (UAE) has some really great banks. These banks are known for providing excellent services and being innovative. In 2024, there are many top banks in the UAE that have stood out for their performance.
These banks have done a great job of keeping up with the changing needs of their customers and the fast-paced market. They have been able to adapt and offer new and exciting services. This means that people have a lot of options when it comes to choosing a bank that suits their needs.
