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Emirates NBD takes fight to FAB in battle for UAE retail market


Credit: Getty Images
Emirates NBD Bank PJSC s aggressive retail lending has enabled the Dubai-based bank to eclipse larger rival First Abu Dhabi Bank PJSC in the retail banking segment, but the United Arab Emirates top bank by assets has the resources to claw back market share.
The two lenders, each majority-owned by the governments of their respective emirates, dominate the UAE s banking sector. Combined, they account for 50.93% of total UAE banking assets, according to S&P Global Market Intelligence data, which also shows that the pair are the second- and third-largest banks in the Middle East and Africa by assets. Emirates NBD has expanded consumer lending, increasing the size of its retail loan book 51% to 91.7 billion dirhams in 2020 from 60.9 billion dirhams in 2017, according to the data. ....

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Emirates NBD takes fight to FAB in battle for UAE retail market


Credit: Getty Images
Emirates NBD Bank PJSC s aggressive retail lending has enabled the Dubai-based bank to eclipse larger rival First Abu Dhabi Bank PJSC in the retail banking segment, but the United Arab Emirates top bank by assets has the resources to claw back market share.
The two lenders, each majority-owned by the governments of their respective emirates, dominate the UAE s banking sector. Combined, they account for 50.93% of total UAE banking assets, according to S&P Global Market Intelligence data, which also shows that the pair are the second- and third-largest banks in the Middle East and Africa by assets. Emirates NBD has expanded consumer lending, increasing the size of its retail loan book 51% to 91.7 billion dirhams in 2020 from 60.9 billion dirhams in 2017, according to the data. ....

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History of banking in the UAE


For anyone considering banking in the UAE, here’s all you need to know about them. Here you can find out how the industry came into existence decades earlier and it has been constantly evolving to cater to every financial need of UAE-based residents.
UAE’s banking industry before the Union
The UAE was born with a natural advantage of having an established banking sector. The history of banking in the GCC and Iran are closely linked to Imperial Bank, which is now part of HSBC.
In 1946, Frank Johnson opened Dubai’s first bank, the Imperial Bank, now part of HSBC. For the past 75 years, HSBC has played a significant role in the development of the UAE; from installing the first ATM in the UAE to supporting the construction of the Sarouj Falaji and to the dredging of Dubai Creek. ....

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