UAE banking consolidation turned a long list of local lenders into three large groups. First Abu Dhabi Bank, formed in April 2017 from First Gulf Bank and National Bank of Abu Dhabi, closed 2025 with AED 1.40 trillion in total assets. Abu Dhabi Commercial Bank and Emirates NBD grew through mergers of their own, adding customers and cross-border reach.
Three deals did most of the work: the Abu Dhabi union of 2017, the three-bank merger announced in January 2019 and Emirates NBD's 2007 home merger, later extended into Turkey and India. The figures below come from the banks' published profiles and reported results.
What Did The First Abu Dhabi Bank Merger Build?
The largest bank in the country. First Gulf Bank and National Bank of Abu Dhabi announced the deal in July 2016, and shareholders approved it that December. Completion came in April 2017. By 2023 the bank was present in 20 markets across the Middle East and North Africa, Europe, the United States and Asia, per its profile. The exchange was a share swap, with FGB holders receiving 1.254 NBAD shares for each share held, per the bank's merger record.
The scale shows in the results. For the 2025 financial year, the group reported net profit of AED 21.11 billion ($5.75 billion at the bank's own conversion), a 24 percent year-on-year rise, on operating income of AED 36.68 billion. Total assets reached AED 1.40 trillion at year end.
How Did Three Banks Become One ADCB?
Abu Dhabi Commercial Bank announced a three-bank merger in January 2019, folding in Union National Bank and Al Hilal Bank. The combined group kept the ADCB name. Al Hilal runs as a standalone Islamic bank inside it. The announcement put the group on course to become the fifth largest in the region, with about one million customers, per the bank's profile.
The deal also redrew the map in Abu Dhabi, cutting three licensed lenders to two groups alongside FAB. Not every name went: Al Hilal Bank still operates as a standalone Islamic bank under the group entity. For related coverage, see How Islamic finance works in the Gulf.
Where Does Emirates NBD Fit In?
Dubai's big merger came earlier. National Bank of Dubai joined Emirates Bank International in March 2007, and the shares listed on the Dubai Financial Market that October, per the bank's history. The model then went abroad. Emirates NBD agreed in 2018 to buy DenizBank from Sberbank and closed the Turkish deal in July 2019. In June 2026, it completed the purchase of a 60 percent stake in India's RBL Bank for $2.75 billion, after announcing the deal in October 2025.
Who Leads The UAE Banking Market Now?
The consolidated groups hold the top of the table:
- First Abu Dhabi Bank: the largest bank in the UAE, with AED 1.40 trillion in total assets for 2025.
- Abu Dhabi Commercial Bank: third-largest in the country by balance sheet size.
- Emirates NBD: one of the Big Four banks, with operations from Egypt to Turkey.
Capital rankings point the same way. The Banker's 2020 list placed FAB first in the UAE and second in the Middle East by Tier 1 capital, per its profile.
What Did The Mergers Actually Create?
Scale at home and reach abroad. The 2017 swap created the country's largest bank in one step. The 2019 merger gave Abu Dhabi a third-place champion with a million customers. Dubai's group used its base to buy into Turkey and India, turning a local merger story into a regional one. This connects to our earlier piece, How to buy shares on the Dubai Financial Market.
Conclusion: What Comes Next For UAE Banking?
The domestic map is set. FAB leads on assets, ADCB holds third place and Emirates NBD sits among the Big Four. The next moves are cross-border bookings: DenizBank and RBL Bank now sit inside group results, and the 2026 reporting season will show how the Indian deal lands on the books.
