UAE national banks’ branches reach 559 in Q3
- Date: 19-Nov-2020
- Source: Mubasher
- Sector:Financial Services
- Country:UAE
UAE national banks’ branches reach 559 in Q3
Abu 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.
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