Wio Bank surpasses Dhs50bn in deposits as digital banking gains ground

Wio Bank said on Monday it has crossed Dhs50bn ($13.6bn) in customer deposits, less than three years after its launch, as digital banking adoption accelerates across the UAE.

The Abu Dhabi-based digital bank said deposits have nearly doubled year-on-year, reflecting a strong shift in how individuals and businesses in the country manage their finances. The milestone underscores Wio’s growing role in the UAE’s push to become a global fintech hub.

Wio’s customer base expanded 72 per cent over the past year, driven by a 93 per cent rise in personal banking customers and 42 per cent growth in business clients.

Wio bank credits customer-centric approach for growth

The bank attributed the surge to its customer-centric approach, including competitive savings tools, salary-linked benefits, multi-currency accounts, and AI-powered investment features through its Wio Invest platform.

“We set out to help UAE businesses and individuals achieve more of their goals by building a platform that is truly born to back you,” said Jayesh Patel, CEO of Wio Bank . “This milestone reflects the trust our customers have placed in us and the shift towards digital-first, customer-centric banking.”

Read: CEO Jayesh Patel on Wio Bank’s rise in UAE’s digital banking space

Wio Bank said it plans to continue expanding its digital offerings and partnerships to support a more integrated and innovation-led financial ecosystem.