Top 3 largest banks in the UAE

The United Arab Emirates is the highly developed modern country, which is considered to be the most powerful state in the Middle East and Northern Africa region. Besides, the UAE is one of the world’s most important financial and business centres that provides the favourable business-friendly environment and the entire necessary infrastructure.

The Government of the UAE puts all the efforts to maintain the continuous economic, social and political development of the state. The particular attention is paid to the advancement of the existing banking system of the UAE.

The UAE banking system is widely known as the world’s most stable and developed player of the global financial market. For many years now, the United Arab Emirates banking system has held the leading positions in the numerous international financial rankings.

Recently, The Banker magazine has published the list of the world’s 1000 largest banks, including 85 Arab banks. The UAE banking sector was represented in this ranking by 20 local banks.

The list of the ten top and largest banking institutions of the GCC’s banking sector permanently includes 3 UAE banks, in particular:

• Emirates NBD;
• National Bank of Abu Dhabi;
• Abu Dhabi Commercial Bank.

These banks possess considerable financial potential, show high operational indicators and provide the full list of the necessary financial tools and banking services. Besides, they are known as the most stable and reliable banks of the UAE financial market. They have such a reputation for the provision of the safest services alongside with the excellent client servicing.

And now we would like to dwell on the main features of the TOP-3 largest banks in the United Arab Emirates.

Emirates NBD

As it was mentioned above, Emirates NBD is the most reliable and strongest banking institution of the United Arab Emirates. Besides, this bank is the third “Strongest Bank in the Middle East”.

According to the data of the Asian Banker Research, the Emirates NBD holds the top position in the “AB 500 Strongest Banks in 2016”. This bank was rated highly for its highest growth records and significant breakthrough in the digitisation of banking services.

The Emirates NBD bank provides both Conventional and Islamic banking services. The clients of this bank are physical persons and legal entities.

Emirates NBD is an indisputable leader of the GCC’s financial market. Branch offices and ATMs of this banking institution are spread both across the country and overseas.

So, Emirates NBD provides the most various services not only on the territory of the United Arab Emirates. The Emirates NBD financial tools and banking services are available for the clients in the numerous countries worldwide.

National Bank of Abu Dhabi

National Bank of Abu Dhabi (NBAD) is the second largest banking institution of the United Arab Emirates

Furthermore, NBAD is considered to be one of the safest banks in the world. In fact, since 2009, this banking institution has been permanently included into the list of the “World's 50 Safest Banks” published by the Global Finance magazine. This ranking is based on the most various indicators, including:

• Effectiveness of the risk management system;
• Quality of services;
• The effectiveness of corporate governance.

As of today, NBAD provides its services in more than 15 countries and overseas territories. The bank possesses the most modern infrastructure that facilitates and improves the quality of the offered financial tools and banking services.

The main purpose of NBAD is the provision of the high-quality Traditional and Islamic banking products to both private and corporate clients worldwide.

Abu Dhabi Commercial Bank

The third place of the TOP-3 largest banks in the United Arab Emirates is held by the Abu Dhabi Commercial Bank.

Abu Dhabi Commercial Bank (ADCB) provides its services over the 48 UAE branches and three overseas branches, 2 of which are located in India and 1 in the United Kingdom.

The area of services of ADCB is not limited to the provision of the Conventional and Islamic banking services. In fact, the ADCB UAE-based public joint stock company provides the most various activities in the areas of:

• Retail;
• Commerce;
• Investments;
• Brokerage;
• Fund management, etc.

ADCB offers the most favourable conditions for carrying out both local and international business, investment and personal financial activities.

Conclusion

The UAE financial market is represented by the world’s most modern and reliable banking institutions. The list of the TOP-3 largest banks in the UAE includes Emirates NBD, National Bank of Abu Dhabi and Abu Dhabi Commercial Bank. These biggest banks provide the whole set of financial tools and banking services and possess the most advanced banking infrastructure both in the United Arab Emirates and abroad.

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