Home GCC UAE Revealed: Top 10 banks in the UAE The country’s biggest listed banks, as ranked by total asset size by Gulf Business May 22, 2017 The GCC banking sector recorded lower returns in 2016, particularly due to increased provisioning and impairment charges as loan asset quality remained under pressure. In the UAE, the banking sector posted a 6.3 per cent decline in net profit in 2016 although it recorded a return on assets of 1.6 per cent (compared to 1.9 per cent in 2015). The diversification in the UAE economy, including the service sector, is helping maintain growth, according to Gulf Business‘ annual Top 50 banks in the GCC report. Wholesale trade is growing, along with transport communication, and tourism and travel. Among UAE banks, Emirates NBD’s loans rose by 7 per cent year-on-year, while Abu Dhabi Commercial Bank’s rose by 8 per cent. Dubai Islamic Bank’s financing portfolio also grew strongly. A big development in the UAE is that the region’s biggest merger, between the UAE’s National Bank of Abu Dhabi (NBAD) and First Gulf Bank, was announced in 2016 and has recently been finalised. The merged bank is called First Abu Dhabi Bank (FADB). The combined $183bn asset base will be the GCC’s second largest institution – just behind Qatar’s QNB – but largest by equity. The merger is significant as it creates an institution that can compete regionally and internationally. FADB will become the number one wholesale bank in the region with international reach. The bank will look to drive growth in core home market sectors and will be able to better serve UAE corporates with international ambitions as well as support international companies operating in the country. It will invest in distribution capabilities and focus on cross-selling wealth management products and services. Cost savings from the merger are estimated at Dhs500m ($136.1m) per year, with benefits realised over three years with an estimated one-time integration cost of Dhs600m ($163.4m). TOP 10 BANKS IN THE UAE (Based on total assets of listed banks at the end of 2016) 1. Emirates NBD Assets in 2016 ($000): 121,972,233 Assets in 2015 ($000): 110,688,858 Growth (2015-2016): 10.19% 2016 net profit ($000): 1,970,913 Return on assets (ROA) in 2016: 1.62% 2. National Bank of Abu Dhabi Assets in 2016 ($000): 114,542,200 Assets in 2015 ($000): 110,689,847 Growth (2015-2016): 3.48% 2016 net profit ($000): 1,441,885 Return on assets (ROA) in 2016: 1.26% 3. Abu Dhabi Commercial Bank Assets in 2016 ($000): 70,321,061 Assets in 2015 ($000): 62,147,319 Growth (2015-2016): 13.15% 2016 net profit ($000): 1,131,791 Return on assets (ROA) in 2016: 1.61% 4. First Gulf Bank Assets in 2016 ($000): 66,732,443 Assets in 2015 ($000): 61,937,482 Growth (2015-2016): 7.74% 2016 net profit ($000): 1,652,546 Return on assets (ROA) in 2016: 2.48% 5. Dubai Islamic Bank Assets in 2016 ($000): 47,636,947 Assets in 2015 ($000): 40,810,646 Growth (2015-2016): 16.73% 2016 net profit ($000): 1,102,655 Return on assets (ROA) in 2016: 2.31% 6. Mashreqbank Assets in 2016 ($000): 33,436,846 Assets in 2015 ($000): 31,352,348 Growth (2015-2016): 6.65% 2016 net profit ($000): 531,966 Return on assets (ROA) in 2016: 1.59% 7. Abu Dhabi Islamic Bank Assets in 2016 ($000): 33,294,235 Assets in 2015 ($000): 32,229,240 Growth (2015-2016): 3.30% 2016 net profit ($000): 531,870 Return on assets (ROA) in 2016: 1.60% 8. Union National Bank Assets in 2016 ($000): 28,291,749 Assets in 2015 ($000): 27,739,318 Growth (2015-2016): 1.99% 2016 net profit ($000): 430,868 Return on assets (ROA) in 2016: 1.52% 9. Commercial Bank of Dubai Assets in 2016 ($000): 17,446,168 Assets in 2015 ($000): 15,753,849 Growth (2015-2016): 10.74% 2016 net profit ($000): 273,091 Return on assets (ROA) in 2016: 1.57% 10. RAKBANK Assets in 2016 ($000): 11,573,708 Assets in 2015 ($000): 11,040,853 Growth (2015-2016): 4.83% 2016 net profit ($000): 180,500 Return on assets (ROA) in 2016: 1.56% Tags Abu Dhabi Commercial Bank Abu Dhabi Islamic Bank Banking Banks Banks UAE Commercial Bank of Dubai Dubai Islamic Bank Emirates NBD First Abu Dhabi Bank GCC GCC banks lists Mashreq Noor Bank RAK Bank Top 10 Top 10 banks Union National Bank 0 Comments You might also like Insights: How ‘omics’ can revolutionise GCC healthcare GCC M&A surge: A blueprint for sustainable growth Emirates NBD, BeZero Carbon partner to support carbon market trading Packed with potential: GCC investment in Africa