Banking Sector Overview
Total assets of the UAE banking sector reached approximately AED 3.98 trillion (USD 1.08 trillion) by the end of 2024, representing a 9.2% year-on-year increase. The UAE banking system is the second-largest in the GCC by total assets, behind Saudi Arabia, and comprises 50 banks, including 22 national banks and 28 foreign bank branches.
Top UAE Banks by Total Assets
| Rank | Bank | Total Assets (AED bn) | Market Share (%) |
|---|
| 1 | First Abu Dhabi Bank (FAB) | 1,182 | 29.7 |
| 2 | Emirates NBD | 898 | 22.6 |
| 3 | Abu Dhabi Commercial Bank (ADCB) | 572 | 14.4 |
| 4 | Dubai Islamic Bank (DIB) | 318 | 8.0 |
| 5 | Mashreq Bank | 248 | 6.2 |
| 6 | Abu Dhabi Islamic Bank (ADIB) | 192 | 4.8 |
| 7 | Commercial Bank of Dubai (CBD) | 124 | 3.1 |
| 8 | RAK Bank | 78 | 2.0 |
| 9 | Sharjah Islamic Bank | 62 | 1.6 |
| 10 | National Bank of Fujairah | 48 | 1.2 |
Asset Growth Trend
| Year | Total Assets (AED tn) | Growth (% YoY) | Loan-to-Deposit Ratio (%) |
|---|
| 2020 | 3.18 | 4.6 | 87.4 |
| 2021 | 3.32 | 4.4 | 84.2 |
| 2022 | 3.52 | 6.0 | 82.8 |
| 2023 | 3.64 | 3.4 | 81.6 |
| 2024 | 3.98 | 9.2 | 80.4 |
Capital Adequacy and Profitability
| Metric | 2022 | 2023 | 2024 |
|---|
| Capital Adequacy Ratio (%) | 17.6 | 17.8 | 18.1 |
| Tier 1 Capital Ratio (%) | 16.2 | 16.4 | 16.8 |
| Return on Assets (%) | 1.6 | 1.7 | 1.8 |
| Return on Equity (%) | 14.2 | 15.1 | 16.4 |
| Non-Performing Loan Ratio (%) | 5.8 | 5.2 | 4.6 |
| Provision Coverage Ratio (%) | 92.4 | 96.8 | 102.1 |
Islamic Banking Segment
Islamic banks and Islamic windows of conventional banks held approximately AED 768 billion in assets in 2024, representing roughly 19.3% of total banking assets. Dubai Islamic Bank and Abu Dhabi Islamic Bank are the two largest standalone Islamic banks in the UAE.
GCC Banking Comparison
| Country | Total Banking Assets (USD bn) | Largest Bank |
|---|
| Saudi Arabia | 1,140 | Saudi National Bank |
| UAE | 1,083 | First Abu Dhabi Bank |
| Qatar | 524 | Qatar National Bank |
| Kuwait | 342 | National Bank of Kuwait |
| Bahrain | 228 | National Bank of Bahrain |
| Oman | 112 | Bank Muscat |
Outlook
UAE banking assets are projected to grow at 7-9% annually through 2027, supported by credit demand from real estate, SME lending, and infrastructure projects. Consolidation is expected to continue, with potential mergers among mid-tier banks. Digital banking transformation and the entry of digital-only challenger banks are reshaping competitive dynamics in retail banking.