UAE national banks’ branches reach 559 in Q3

SectorFinancial Services


u Dhabi – Mubasher: The number of locally incorporated banks operating in the UAE dropped to 559 branches in the third quarter (Q3) of 2020, compared to 664 branches in the prior-year quarter. Quarter-on-quarter (QoQ), the number of national banks remained unchanged at 21 during Q3-20, according to official data from the Central Bank of the UAE (CBUAE). The number of ATMs fell by 654 in the July-September period to stand at 4,540 in Q3-20, compared with 5,180 in Q3-19. In the meantime, the number of offices for intermediating in currency trading reached 11 offices by the end of the third quarter, up from 9 offices in the year-ago period. more...