The UAE maintained its position as having the largest banking sector in the Arab world for the third consecutive year while the country’s Emirates NBD emerged as the top bank in the region, according to banking data. At the end of the first half of 2011, the UAE controlled just over 18 per cent of the combined assets of the nearly 470 banks grouped in the Union of Arab Banks (UAB) and around 28 per cent of their capital.
Figures by the Beirut-based UAB showed the UAE, the second largest Arab economy, also had the highest deposits and credit level in the region’s banking sector after it overtook Saudi Arabia three years ago.
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