You’ve probably heard people say, "The richest bank in Dubai"-but what does that even mean? Are we talking about total assets? Profit? Branches? Or just the name everyone recognizes on the street? If you’re trying to figure out which bank in Dubai holds the most power, money, or influence, you’re not alone. And the answer isn’t just one bank-it’s a tight race between two giants, with a few others close behind.
Who’s Actually the Richest Bank in Dubai?
The richest bank in Dubai-and in the entire United Arab Emirates-is First Abu Dhabi Bank (a state-backed financial institution formed in 2017 by merging National Bank of Abu Dhabi and First Gulf Bank, FAB). As of late 2024, FAB held over AED 1.2 trillion in total assets, making it the largest bank in the Middle East by assets and the clear leader in Dubai’s financial scene.
But here’s the twist: FAB is technically headquartered in Abu Dhabi. So if you’re asking about the richest bank based in Dubai, then the crown goes to Emirates NBD (Dubai’s homegrown banking powerhouse, founded in 1973 and fully owned by the Government of Dubai). Emirates NBD sits at around AED 1.1 trillion in assets, making it the second-largest bank in the UAE and the biggest bank headquartered in Dubai.
So yes-FAB is bigger overall. But if you’re sitting in Downtown Dubai, walking past the iconic Emirates NBD tower near Dubai International Financial Centre (DIFC), you’re looking at the richest bank born and raised in Dubai.
Why Does Asset Size Matter?
When people say "richest," they usually mean "biggest." But why does asset size even matter to you? Because it tells you how much money a bank has to lend, invest, and support businesses and individuals.
Think of it like a supermarket. A tiny corner store might have enough milk and bread for your family. But a Walmart? It has enough to feed a whole city. Same idea. A bank with over a trillion dirhams in assets can:
- Offer huge business loans to developers building new skyscrapers
- Finance international trade deals between Dubai and China or Germany
- Give you a mortgage with lower interest rates because they’re not struggling to find cash
- Survive economic dips better than smaller banks
That’s why Emirates NBD and FAB aren’t just banks-they’re economic engines. When Dubai’s real estate market booms, these two banks are the ones funding it. When a startup needs $50 million to scale, they’re the first places that startup calls.
The Top 5 Banks in Dubai by Assets (2025)
Here’s the current ranking of the biggest banks operating in Dubai, based on publicly reported asset figures as of Q3 2025:
| Rank | Bank Name | Headquarters | Total Assets (AED) | Key Strength |
|---|---|---|---|---|
| 1 | First Abu Dhabi Bank (FAB) | Abu Dhabi | 1.2 trillion | Government-backed, strongest international presence |
| 2 | Emirates NBD | Dubai | 1.1 trillion | Best retail network, largest digital banking platform in UAE |
| 3 | Abu Dhabi Commercial Bank (ADCB) | Abu Dhabi | 780 billion | Strong in corporate banking and SME lending |
| 4 | Union National Bank (UNB) | Dubai | 520 billion | Fast-growing, focused on digital innovation |
| 5 | Commercial Bank of Dubai (CBD) | Dubai | 480 billion | Popular among expats, strong in personal banking |
Notice something? Three of the top five are based in Abu Dhabi. That’s because Abu Dhabi’s sovereign wealth fund, ADQ, pours billions into its banks. But Dubai still leads in retail banking-more people open savings accounts, get credit cards, or take out home loans with Emirates NBD or CBD than anywhere else.
What Makes Emirates NBD the Dubai Favorite?
If you live in Dubai, you’ve probably seen Emirates NBD’s bright green ATMs everywhere-from Al Quoz to Palm Jumeirah. They’re the most visible bank in the city, and for good reason.
They have over 180 branches in Dubai alone. Their mobile app, Emirates NBD Mobile, has over 5 million active users. They launched the first fully digital bank in the UAE-NBD Pay-and now handle over 80% of all digital transactions in the country.
They’re also the bank most expats trust. Need a salary transfer? A multi-currency account? A loan for a new car? Emirates NBD has tailored packages for every kind of resident. Their customer service? Fast, bilingual, and usually available on WhatsApp.
And here’s a little-known fact: Emirates NBD owns Emirates Islamic, one of the largest Sharia-compliant banks in the region. So whether you’re looking for conventional banking or Islamic finance, they’ve got you covered.
How Do You Choose the Right Bank in Dubai?
Just because a bank is the richest doesn’t mean it’s the best for you.
If you’re:
- An expat with a salary in USD or EUR? Emirates NBD or CBD offer multi-currency accounts with low fees.
- A small business owner? ADCB and FAB have better corporate loan terms and trade finance tools.
- Prefer Islamic banking? Emirates Islamic (owned by Emirates NBD) or Abu Dhabi Islamic Bank are top picks.
- Always on the go? Emirates NBD’s app is the most reliable-no crashes, instant transfers, bill payments, and even crypto trading.
- Looking for the highest interest on savings? Check out smaller banks like Dubai Islamic Bank-they often offer better rates to attract customers.
Don’t just pick the biggest name. Pick the one that fits your life.
What’s Changing in Dubai’s Banking Scene?
Dubai’s banks aren’t sitting still. In 2025, they’re racing to become the most digital, most secure, and most customer-friendly in the region.
FAB just launched AI-powered financial advisors in their app. Emirates NBD rolled out blockchain-based trade finance for importers. CBD introduced biometric ATMs that recognize your face instead of your PIN.
And here’s the real game-changer: central bank digital currency (CBDC). The UAE Central Bank is testing a digital dirham. When it launches, your bank account might look more like a crypto wallet. The banks with the strongest tech teams-FAB and Emirates NBD-are already preparing for it.
So while asset size matters today, tomorrow’s winner might be the one with the best app, not the biggest balance sheet.
Frequently Asked Questions
Is Emirates NBD the richest bank in Dubai?
Yes, Emirates NBD is the richest bank headquartered in Dubai, with over AED 1.1 trillion in assets as of 2025. While First Abu Dhabi Bank (FAB) is larger overall, it’s based in Abu Dhabi. So if you’re asking about Dubai-based banks, Emirates NBD takes the crown.
Which bank has the most branches in Dubai?
Emirates NBD has the most branches in Dubai-over 180 across the city, including in malls, residential areas, and business districts. FAB and ADCB follow closely, but Emirates NBD’s network is unmatched for convenience.
Can foreigners open a bank account in Dubai?
Yes, absolutely. Most major banks in Dubai, including Emirates NBD, Commercial Bank of Dubai, and FAB, allow foreigners to open accounts. You’ll need your passport, visa, proof of address, and sometimes a salary certificate. Many banks even offer special expat packages with zero monthly fees.
Is Dubai’s banking system safe?
Extremely. Dubai’s banks are regulated by the UAE Central Bank, one of the most rigorous financial authorities in the region. The country has one of the lowest rates of bank fraud in the world. Plus, deposits up to AED 1 million are protected under the Deposit Protection Scheme.
Which bank is best for digital banking in Dubai?
Emirates NBD leads in digital banking. Their app has over 5 million users, offers real-time payments, bill splitting, crypto trading, and 24/7 live chat support. FAB and ADCB are catching up, but Emirates NBD’s interface is still the most intuitive and reliable.
Final Thought: Size Isn’t Everything
The richest bank in Dubai might be First Abu Dhabi Bank-but if you’re living here, the bank that actually makes your life easier is probably Emirates NBD. It’s everywhere, it’s digital-first, and it speaks your language-whether you’re from India, the UK, or Nigeria.
Don’t chase the biggest name. Chase the one that works best for you. Whether you’re saving for a home, running a business, or just trying to pay your phone bill without a 3-day wait-there’s a bank in Dubai built for that.
