| From Business24-7.ae: Six large banks controlled about 60 per cent of the UAE's total banking business as at the end of 2009. This points to the need for mergers in the UAE's banking industry, which has more than 50 local and foreign banks, say financial services experts.
While Emirates NBD, National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank, First Gulf Bank, Dubai Islamic Bank and Mashreq control 60 per cent of the total business, about 45 banks share the remaining 40 per cent of the UAE business............................................Full Article: Source
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