New Central Bank statistics show that 21 foreign banks operate 77 branches in the UAE
The number of ATMs in the UAE rose to 5,261 by the end of June, an increase of 42 from the year before, according to statistics from the Central Bank of the UAE (CBUAE).
According to CBUAE, the rise in ATM’s is a reflection of improving economic sentiments in the country.
Additionally, statistics from the Central Bank indicated that the number of national banks declined from 23 to 22, as a result of the merger between the National Bank of Abu Dhabi and First Gulf Bank into First Abu Dhabi Bank, or FAB.
The total number of bank branches decreased from 816 to 755 during the same time period, while the number of electronic service units fell from 36 to 32 and money exchange companies fell from 61 to 48.
The statistics indicate that six GCC branches operate four branches in the UAE, while foreign banks rose from 20 to 21, with 77 branches.
By the end of Q2 2018, the number of financial entities operating under the UAE Central Bank's mandate and supervision, reached 12 commercial banks, 99 bank representation offices, 26 financing companies, 128 money exchange firms and 11 brokerage bureaus.