Best Banks in UAE

Published
13 July 2023

Published
13 July 2023

Our team of experts diligently compiles and verifies broker information to provide you with the most accurate details.

Štefan Grašič

Written by
Stefan Grasic

Written By
Stefan Grasic

Owner Of Business24-7

Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in […] Read More

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Page Summary

The United Arab Emirates is the biggest financial hub of the Middle East. It is attracting many investors and companies from across the globe because of its favorable business environment. As a result, banks, financial institutions, and other financial service providers compete to offer these investors and companies the best possible banking services. There are 23 domestic and 28 foreign banks in the UAE in total. Some of these banks are Islamic banks whilst others provide banking services to both ex-pats and UAE nationals of all religions.

In this guide, we break down the best Banks in UAE! We have compared and analysed 51 different banks with offices in UAE and ranked them based on our evaluation in 6 major categories including: fees, available products, customer service, amount of branches and ATMs.

Based on our findings, these are the best Banks in UAE:

  1. Emirates National Bank of Dubai
  2. Emirates Islamic Bank
  3. First Abu Dhabi Bank
  4. Abu Dhabi Commercial Bank
  5. Mashreq Bank
  6. Dubai Islamic Bank
  7. National Bank of Fujairah
  8. Standard Chartered Bank
  9. National Bank of Ras Al-Khaimah
  10. Abu Dhabi Islamic Bank

Our Top 10 UAE Banks In Overview

1. Emirates National Bank of Dubai (ENDB)

Bank Information – When the second biggest bank in UAE, the Emirates Bank International (EBI), and the fourth biggest bank in UAE, the National Bank of Dubai (NBD), merged in 2007 into the Emirates National Bank of Dubai (ENDB), it created the banking conglomerate with the largest amount of assets in the GCC region. ENDB operates in more than 10 countries over 3 continents and is the bank with the most ATMs in UAE. 

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2. Emirates Islamic Bank

Bank Information – The Emirates Islamic Bank is one of the best UAE banks providing Sharia-compliant products. It is founded in 2004 and provides loans, credit cards, and other banking services to both businesses and consumers. 

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3. First Abu Dhabi Bank

Bank Information – The First Abu Dhabi Bank has branches across the globe, is one of the best banks for ex-pats and UAE nationals, and is one of the largest equity-based banks in UAE. They have excellent customer support and offer a wide range of banking services. 

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4. Abu Dhabi Commercial Bank (ADCB)

Bank Information – 58% of all ADCB shares are in the hands of the Abu Dhabi Investment Council which is part of the Abu Dhabi government and the bank is one of the top 3 biggest and best banks in UAE. 

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5. Mashreq

Bank Information – Mashreq is one of the fastest-growing banks in UAE. One of its most unique features is its smartphone app that allows clients to send money to over 20 countries without paying any fees.

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6. Dubai Islamic Bank

Bank Information – Dubai Islamic Bank is founded in 1975, headquartered in Dubai, and was the first bank offering Islamic finance solutions to UAE residents. Via Dubai Islamic Bank clients can invest in Sharia-compliant financial products with no hidden fees.

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7. National Bank of Fujairah 

Bank Information –  The National Bank of Fujairah is one of the best banks in UAE and has won many awards like the Best SME Internet Banking Service and Best Treasury Management at the Banker Middle East UAE Product Awards. It offers consumer and business loans, credit cards, and a wide range of other banking services.

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8. Standard Chartered Bank

Bank Information – Standard Chartered Bank is one of the largest international banks offering both conventional and Islamic banking services. It is founded in 1958 with its first UAE branch in Sharja and has ATMs across the entire UAE nowadays. 

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9. National Bank of Ras Al-Khaimah (RAKBANK) 

Bank Information – RAKBANK is 52,75% government-controlled, has 33 branches in UAE, and has won multiple accolades like the SME Bank of the Year and Best Internet Banking awards. It offers a wide range of personal and business banking services including, but not limited to loans, credit cards, and digital banking solutions.

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10. Abu Dhabi Islamic Bank (ADIB)

Bank Information – ADIB is a Sharia-compliant bank with over 70 branches and more than 460 ATMs across the country that focuses heavily on younger demographics. One of its notable products is its student ISIC card, which rewards students for effective money management skills. The card is accepted in more than 10 countries and offers discounts and other perks to its users. 

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UAE Banks Compared

UAE Bank Name Amount of Branches and ATMs
Emirates National Bank of Dubai 33 Branches and 1081 ATMs
Emirates Islamic Bank 50 Branches and 39 ATMs
First Abu Dhabi Bank 74 Branches and 100+ ATMs
Abu Dhabi Commercial Bank 72 Branches and 450 ATMs
Mashreq Bank 31 Branches and 31 ATMs
Dubai Islamic Bank 90 Branches and 520 ATMs
National Bank of Fujairah 48 Branches and 48 ATMs
Standard Chartered Bank 5 Branches and 42 ATMs
National Bank of Ras Al-Khaimah 26 Branches and 131 ATMs
Abu Dhabi Islamic Bank 89 Branches and 577 ATMs

Conclusion

Now that you know what the best banks in UAE are for both ex-pats and UAE nationals, you can decide where you want to apply for a bank account, personal or business loan, or credit card. Below we will explain how you can do this. 

Štefan Grašič
Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began... Read more about Stefan Grasic
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