Emirati banks have decreased their number of local branches by 8%, resulting in the closure of 38 branches. By the end of the first half of this year, the total number of operating bank branches in the UAE stood at 444, down from 482 branches in the same period last year. This trend reflects the ongoing digital transformation efforts within the country’s banking sector.
According to the recent banking developments report from the central bank, the number of national banks in the UAE, excluding investment banks, remained unchanged compared to the previous year, totaling 23 branches by the end of June 2025. Additionally, the report noted that there were 45 electronic banking service units and 21 currency exchange offices.
The number of Gulf banks operating in the UAE remained stable at seven, which includes six traditional banks and one Gulf investment bank. The number of branches for these banks also held steady at six during the same period. In contrast, the number of foreign banks was at 21, although they reduced their branches from 72 to 66 from mid-last year to mid-this year. The count of electronic banking service units for foreign banks continued to stand at 21 by the end of June 2025.
Overall, the report indicates that the number of other licensed financial institutions by the central bank remained constant at 173, with money exchange companies leading the sector. However, the total number of these companies decreased from 76 last year to 69 this year as part of regulatory measures implemented by the central bank. The number of licensed representative offices fell from 70 to 68, while there was a slight increase in financing companies, which rose by one to reach a total of 18. The number of licensed business banks remained consistent at 11.
On a positive note, banks in the UAE increased their total number of ATMs by approximately 172 over the past year, bringing the overall figure from 4,659 ATMs last year to 4,831 by mid-2025.