Dubai is the centre of International Community and Business Trade; we are talking about the UAE market. We will review the top 5 banks running in UAE.
Picture Courtesy: www.dubaichronicle.com
it is the largest bank in UAE. Emirates NBD came into existence in 2007 after going public and have its shares renewed on the Dubai Financial Market. Emirates NBD was an alliance between top 2nd and 4th biggest bank of UAE, named Emirates Bank and National Bank of Dubai. This merger formed the largest bank in terms of assets in the entire Middle East with a total of more than AED 282 bn as at the end of the year 2008. The group once formed in 2007 soon developed its operations in Qatar, KSA, the United Kingdom and Jersey, and representative offices in Iran, India, and Singapore.
National Bank of Abu Dhabi
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Often called as NBAD, it is the 1st biggest corporate bank running in Abu Dhabi and 2nd largest in the United Arab Emirates. Having the head office in Abu Dhabi, it is rated as the largest in terms of market capitalization. The bank is connected in all popular departments like Retail Banking, Corporate, and Investment banking, wholesale, private banking and wealth management. It does not only hold its services outside UAE as well as in Kaula Lumpur, Shanghai, China.
Abu Dhabi Commercial Bank
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it is the one important bank operating in UAE. Called as ABCD too, the bank was founded in 1985 as a Limited Liability company with Public Shareholding Company. The bank is also an alliance between 2 leading Banks which are Federal Commercial Bank with Khaleej Commercial Bank and Emirates Commercial Bank, which was founded in 1975.The UAE government, contains 65% of the shares with the cooperation of Abu Dhabi Investment Authority, Financial institutions and general Public held rest shares.
First Gulf Bank
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it’s often known as FGB is the 4th biggest bank currently running in the United Arab Emirates in terms of Assets. Founded in 1979, its first head quarter has been situated in Abu Dhabi. It provides a wide range of conventional and Islamic products containing brokerage, wholesale, investment banking, Takaful and Retail banking. The bank works outside UAE as well and has a broad network of offices in Singapore and Qatar, representative offices in Hong Kong and India, Seoul, Libya and South Korea.
Dubai Islamic Bank
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it’s another best bank in UAE. The bank penetrates into various banking lines and gives the best solutions to its customers. It was founded in Dubai in 1975 as a first Islamic Bank combining important Islamic laws in the business. The bank holds its services inside and outside UAE with 62 operating branches and extension in the Asian and European region. It has also started
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