Abu Dhabi Commercial Bank
When the Bank was formed? Abu Dhabi Commercial Bank often known as ABCD came into…
Banking sector gained huge popularity after the Gold Smith age and money was regarded as the standard medium of Exchange for goods. With the establishment of World’s heart of Business, UAE in mid 1990s, while giving importance to other sectors, Government of UAE gave huge attention to the development of Financial Institutions and this is why we see huge number of Banks Head quarter located in Dubai.
However, let’s forget the past and come to the recent rapid growth in this sector. It will astonish you to see that the economy of UAE is 60 percent based on the Revenues, sales and Profits of financial Sector. An obvious example is of recent Financial Crisis that hit UAE as well but thanks to some strong policies, UAE was not much affected by its consequences else the Dubai Bubble.
Before moving on to the main topic, let’s clarify some basic concepts. The most important feature in determining the success of any bank is its Assets, Net Income and Current Ratios. These are some preliminary tools that give general public a clear picture as what the bank is doing in general and some smart people can also extract the potential future of it by checking the past trends of Net Income and number of investments bank is involved in.
So, when we talk about UAE Banking sector, competition is huge and market is saturated. Here the service culture and number of branches also influence the brand image of any bank and this is what the topic of discussion is for today. Suppose, you have some money and now you are in hurdle as which bank suits you the best. Obviously checking Return on Income is important but if transactions are your main apple of discord, you surely go with the bank with best Online Banking and easy access to branches.
Yes, this is where number of branches come in play. Since People surely don’t want to waste a second out of their business. Most of the time internet and mobile banking can solve your problems but sometimes it becomes essential for you to check branch in person. In this article, we will mainly talk about those banks having largest chain of branch networks and where customers walk in the most.
1. National bank of Abu Dhabi (NBAD)
Here comes the largest branch network Bank, National Bank of Abu Dhabi often recognized as NBAD was established in 1968, the first Bank in Abu Dhabi. The bank consists of more than 50 branches working across UAE.
2. First Gulf Bank
Often known as FGB, the bank consists of a branch network of 20 branches in UAE.
3. Abu Dhabi Commercial Bank (ABCD)
Working in and out the premises of UAE, There are 50 branches of ADCB around the globe.
4. Emirates NBD
There are 69 branches of Emirates NBD working in Dubai.
5. Union National Bank (UNB)
There are 68 branches working smoothly in UAE.
6. Abu Dhabi Islamic Bank (ADIB)
There are 69 branches of ADIB across the globe.
7. National Bank of Ras al-Khaimah (RAK Bank)
This bank comes under the list of Top 10 banks in UAE, There are a number of branches in all emirates of UAE including Abu Dhabi, Dubai, Sharjah, Ajman, Al Ain, Fujairah, Ras Al Khaimah.
8. Dubai Islamic Bank
The bank was been operated as the first Islamic Bank containing a wide network of branches, the bank has also widen its horizons in Pakistan with a branch network of 75.
9. Noor Islamic Bank
Catering to the largest audience of UAE, established in 2008, Noor Islamic Bank is the largest Islamic Bank having more than 20 branches all over Emirates.
10. HSBC Aamnah
With the rise of popularity of Islamic Banking, The leading Banking Corporation also took an important step and introduced HSBC Amanah. With the principals of Shairah, the bank was opened wide in main Emirates of UAE in 1998 and now grasp a stronger foot print in UAE.
So far, we have discussed some numbers, but the main food of thought remains the same. Neither Number of branches nor Market Share can be the tools to determine the success of any organization, rather Customer Satisfaction will remain the basic evaluating device to check the success of any Financial Institution.