Best bank 2025: Emirates NBD
Emirates NBD had an impressive year defined by robust growth across various business units, innovative product offerings, and a commanding position in sustainable finance.
The bank’s year-on-year financial growth is evident across its retail banking and wealth management, where it achieved its highest revenue, alongside an impressive 46% increase in loan origination.
Asset growth year-on-year stood at an impressive 16%, with the bank registering a significant Dh160 billion ($43.6 billion) in new loans and maintaining a one-third market share of UAE credit cards.
Its corporate and institutional banking segment saw a 38% increase in profits before tax due to robust income generation and recovery strategies. Through Emirates Islamic, the institution cemented its position as an Islamic banking leader with a record Dh2.8 billion profit.
Its investment banking arm, Emirates NBD Capital, dominated UAE IPOs. It advised on prominent ECM transactions such as the largest grocery retail IPO in MENA for Lulu Retail, and the Spinneys IPO, helping attract strong investor demand from various investor categories.
Emirates NBD’s substantial contributions to sustainable finance were noteworthy, exemplified by its mobilisation of over $34.3 billion in sustainable finance, placing it among the top global coordinators for emerging market ESG bonds.
The bank also showed strong leadership in the ESG space by issuing the world’s first sustainability-linked loan financing bond, which set a global benchmark.
In technology and digital innovation, Emirates NBD has set high standards with its ENBD X platform, achieving a 4.7 app store rating from over 1.6 million customers. The bank has significantly expanded its digital wealth platforms, reflecting its commitment to enhancing customer service through technological advancements.
The institution’s strategic initiatives in launching new products such as the Priority Banking Visa Infinite Credit Card and its strategic alignment with markets through products such as the Noon One Visa Credit Card reflect a nuanced understanding of consumer needs and market trends in the digital age.
Best international bank 2025: HSBC
HSBC has earned recognition as UAE’s best international bank through its commanding capital markets presence, sustainable finance leadership and digital transformation.
The bank strengthened its position as the UAE’s premier equity markets powerhouse, ranking first for IPO issuance since 2021 and standing as the top international global coordinator for new listings in 2024. HSBC led three of the five largest international IPOs in the UAE, raising $2.5 billion while generating exceptional investor demand exceeding $127 billion across both Dubai Financial Market and Abu Dhabi Securities Exchange.
HSBC’s strategic advisory prowess shows in its role as sole financial adviser to Mubadala Investment Company on its $2.5 billion retail real estate partnership with Aldar Properties. This transaction created a world-class retail platform in Abu Dhabi, optimising asset utilisation while enhancing the emirate’s position as a premier global lifestyle destination.
Sustainability remains central to HSBC’s UAE strategy, with the bank executing multiple green, social, sustainability and sustainability-linked bonds for key regional issuers including Emirates NBD and RAKBANK. Notably, HSBC served as sole ESG structurer for the high-profile Spinneys IPO, embedding credible climate metrics into this landmark transaction.
Digital adoption accelerated impressively throughout HSBC’s retail banking operations. Usage of its flagship Global Money Account grew to nearly one-third of active customers, while foreign exchange transactions have become overwhelmingly digital.
The bank enhanced its competitive edge by introducing an International Payment Tracker and enabling immediate account opening for new UAE residents, while extending faster payment rails to the strategically important India and Egypt corridors.
Through these accomplishments, HSBC continues to strengthen its position as the international bank of choice in the UAE, delivering sophisticated financial solutions that support the nation’s development priorities.
Best bank for large corporates 2025: Mashreq
Mashreq’s recent initiatives underline its commitment to reshaping corporate banking through forward-looking, client-centric innovation.
The bank achieved a double-digit year-on-year increase in its wholesale corporate franchise, underscoring its engagement with large-cap clients and its ability to scale this segment.
A key achievement was the bank’s fully digital onboarding platform built for large corporates. By halving the data clients must enter and trimming approval times by 60% – thanks to advanced artificial intelligence and enhanced financial reporting tools – the the platform gives corporates faster access to banking services.
Mashreq has also dramatically lifted relationship manager productivity: an AI-powered Smart Call Report generator cuts reporting time from 12 minutes to just one, freeing RMs to concentrate on advisory work and bespoke solutions.
Additionally, an AI-driven deal recommendation engine has already delivered DH57 million by uncovering cross-sell and upsell opportunities that deepen client relationships.
Beyond internal improvements, Mashreq is reshaping corporate banking with an API-led strategy. Its API marketplace offers real-time ecosystem solutions and open banking connectivity, meeting corporates’ day-to-day transactional needs while cementing Mashreq’s position as a digital innovation leader in the UAE.
Best investment bank 2025: HSBC
HSBC has shown an exemplary performance in 2024, particularly in the UAE, making it the deserving recipient of the country’s best investment bank award.
Its leadership in orchestrating three of the five largest international IPOs in the UAE, including the largest ever consumer retail IPO on the Abu Dhabi Securities Exchange (also a deal with the highest levels of oversubscription on the Dubai Financial Market) confirms its unmatched expertise in equity capital markets.
These IPOs not only raised $2.5 billion but also attracted an impressive demand exceeding $127 billion, showcasing HSBC’s potent capability in generating investor interest and confidence.
In debt capital markets, HSBC has solidified its number one position by leading significant transactions with major UAE issuers and maintaining exclusive mandates with the government entities, highlighting the bank’s trusted role in high-stakes financial environments. Its ability to introduce new issuers to the market, alongside its involvement in diverse, impactful deals such as the sustainability-linked loan bond issuance by Emirates NBD, highlight its forward-thinking approach in finance.
HSBC’s commitment to sustainability and innovative financing solutions has allowed the bank to assist a diverse range of clients in advancing their climate transitions. This alignment with global sustainability goals positions HSBC not just as a leader in finance but also as a conscientious player in the global move towards more sustainable development.
M&A performance also remained strong, with HSBC handling transformative deals worth over $5 billion in 2024, serving high-profile clients including major sovereign wealth funds and corporate giants like Adnoc and DPW. The bank’s extensive involvement across key sectors from logistics to real estate underlines its depth of market understanding and operational excellence.
Best investment bank for DCM 2025: ADCB
Abu Dhabi Commercial Bank (ADCB) delivered a strong performance in the debt capital markets (DCM) space, facilitating a combined $47.8 billion, 83% up on its 2023 volumes.
In 2024, ADCB recorded 60 transactions compared to nine when it first launched the desk in 2021, surpassing local competition. The bank served as global coordinator on eight deals, up from two in the previous year, executing an impressive suite of complex, high-value transactions, including landmark sovereign issues and key structured financings.
Notable deals included the $2 billion dual-tranche bond for Abu Dhabi Developmental Holding company (ADQ), and Arada’s $400 million 5-year sukuk. The bank’s leadership and trust among issuers is also evidenced by its ability to secure repeat mandates from names such as Mubadala, Sharjah and Bank of Sharjah.
ADCB has been commended on its ability to execute innovative deal structures, such as Mubadala’s debut sukuk and NEDC’s debut sukuk. Its clients highlight its technical expertise, its private banking distribution and skill in delivering on tight timelines.
Best investment bank for ECM 2025: Emirates NBD Capital
Emirates NBD Capital delivered a standout performance in 2024’s equity capital markets, topping country league tables by number of deals and deal value as joint global coordinator.
Beyond volume, it excelled in variety too. Its platform completed six IPOs – acting as joint global coordinator on four – while executing the Dubai Financial Market’s first accelerated bookbuild, a $246 million Taaleem sell-down that was 3x oversubscribed during a two-and-a-half-hour book and cleared 20% above the company’s IPO price.
Acting as joint global coordinator on two of the three largest MENA IPOs of the year, Emirates NBD Capital channelled more than $5 billion into regional equity markets and reset benchmarks for subscription levels, retail participation and tech sector valuations across the Gulf.
October’s $1.7 billion Lulu Retail sale was upsized after Dh127 billion of orders and a record 80 000-plus retail applications.
To sustain momentum, the bank enlarged its ECM, syndicate and research teams in the UAE, Saudi Arabia and Singapore and laid infrastructure in Turkey. In a fantastic year, it reinforced its status as the preferred coordinator of Dubai privatisations, strengthening coverage of ADX and Tadawul.
Best investment bank for financing 2025: First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) has spearheaded large-scale, pioneering financing across the UAE and beyond by leveraging its expertise in sustainability-linked structures and project finance.
Among its signature achievements was the sustainability-linked multicurrency term loan for GEMS, which helped connecting the company’s educational development with green and social targets.
The bank also arranged $1.14 billion in debt for Amaala Sustainable Company for Energy LLC, funding the world’s first off-grid, multiutilities project powered entirely by renewables and a flagship of Saudi Arabia’s Vision 2030.
Additional mandates completed by the bank included a sole global green coordinator role for DEWA VI PV Solar PF, supporting its 1.8 GW project, alongside a mandate for Henakiyah Solar PV project – capable of powering roughly 190,000 homes and avoiding more than 1.8 million tonnes of CO₂ annually – underlining the bank’s mission to contribute to the region’s energy transition.
Best investment bank for M&A 2025: Citi
Ranked number one in the UAE’s investment banking M&A league tables, Citi leads not only in deal volume but also in the scale and influence of the transactions it shepherds.
From renewable energy to oil and gas, technology, and infrastructure, its track record affirms an unrivalled acumen in the region.
Its capacity to execute intricate, cross-border mandates was on full display as sole financial adviser to Masdar on the $1.4 billion purchase of Brookfield Renewable’s stake in Saeta Yield – one of Spain’s largest renewable energy deals and a move that markedly broadened Masdar’s global footprint.
Citi also guided PTTEP MENA in securing a 10% stake in the Ghasha Concession, supported ADNOC on landmark acquisitions ranging from Fertiglobe to the Absheron gas field, and orchestrated the sale of Network International Holdings to Brookfield Asset Management, deftly navigating multiple jurisdictions and regulatory regimes.
Other landmark mandates for the bank included ADNOC’s investment in OMV AG, Abu Dhabi Ports Company’s strategic expansions, and the transfer of defence and aviation-maintenance assets from ADQ to Abu Dhabi Aviation.
Best bank for consumers 2025: Abu Dhabi Islamic Bank
Over the past year, Abu Dhabi Islamic Bank (ADIB) has improved its customer-centric vision through strategic enhancements across its digital platforms and physical network, meriting the accolade of UAE’s and the Middle East’s best bank for consumers.
In the past year, ADIB broadened customer engagement through a new loyalty scheme that rewards everyday financial actions – from transfers to financing – with points that can be redeemed in-app. At the same time, its fully digital, 24/7 account opening journey, underpinned by instant KYC and real-time screening, pushed new account volumes to more than twice the previous year’s level.
Credit underwriting has been equally transformed: most digital financing requests are now approved straight through without documentation, compressing decision times and improving customer satisfaction.
Additionally, the bank released more than 30 new or enhanced self-service features on its mobile and online platforms, allowing users to complete KYC with UAE Pass, request balance transfers or supplementary cards, and navigate a refreshed, intuitive interface that has shifted a significant share of traffic away from branches and call centres.
Physical reach expanded in parallel. Beyond strengthening the conventional branch footprint, ADIB opened two smart branches equipped with Interactive Teller Machines, cash and cheque deposit machines and instant card issuance kiosks, while adding more than 35 ATMs across the UAE.
Complementing these outlets, the business banking division is rolling out dedicated centres and strategic collaborations to bring tailored support closer to the country’s SMEs.
Best bank for SMEs 2025: RAKBANK
RAKBANK achieved significant growth in customer onboarding, launched innovative financial solutions, and accelerated its digital transformation to take the country’s award for best bank for SMEs.
The lender recorded a notable increase in new customers, the majority of whom are startups – many led by women – bolstering the UAE’s entrepreneurial ecosystem and underscoring the bank’s commitment to inclusive finance.
Driving this success is an expanding suite of technology-driven products. Highlights include the launch of the Aani instant-payments system, which settles transactions in as little as 10 seconds; an Arabic mobile app for business-banking clients; and the enablement of corporate tax payments through the bank’s digital channels.
This digital focus produced a 21% rise in online transactions to 6.9 million in 2024, up from 5.7 million the previous year, while digital activation among new-to-bank customers climbed to 86% year-on-year. Rapid onboarding further enhances the customer experience.
Best digital bank 2025: Wio Bank
Wio Bank has set a new benchmark for digital banking in the UAE, demonstrating strategic innovation and rapid customer growth.
Since its launch, the bank has introduced Wio Invest, the nation’s first bank-integrated investment platform, which has swiftly outpaced established neobrokers with Dh12 billion in trades and Dh2 billion in assets under management during its inaugural year – clear evidence of the market’s appetite for its all-in-one approach to wealth building.
This service represents the region’s sole SCA-approved bank platform for digital assets, processing over Dh1 billion in crypto trades in the final quarter of 2024 alone.
On the business banking front, Wio has redefined speed and simplicity, opening SME accounts in under ten minutes and onboarding companies within two days, while rolling out more than fifty new digital features in 2024, thanks to its cloud-native microservices architecture.
In retail banking, Wio Personal has welcomed more than 140,000 users in just seventeen months and boasts a Net Promoter Score of 78, a figure driven by friction-free onboarding and consistently high service standards.
Innovation also drives the bank’s lending proposition. It pioneered the UAE’s first POS receivables-based financing solution, embedded directly in merchant payment platforms to give businesses effortless access to working capital. Wio has woven its services into three leading accounting and trading systems, enabling real-time reconciliation and rapid third-party payouts.
By connecting to the UAE’s Aani network for instant payments, Wio has made peer-to-peer transfers and recurring transactions as simple as every other part of its ecosystem, underscoring its commitment to technology that eases and enriches everyday finance.
Best digital bank for large corporates 2025: First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) is steadily raising the bar for digital services in the large corporates space. Its strategy weaves a range of advanced services designed for the complex demands of large organisations, all while anticipating the direction of a fast-evolving, digital-first marketplace.
Central to this vision is the bank’s embrace of API banking. By embedding banking functions directly into a customer’s core systems, FAB makes day-to-day financial operations almost invisible – effortless, secure and fully aligned with clients’ workflow.
The bank launched new flagship services such as FABePay and the electronic Direct Debit Service, which simplify collections and payments, and with a powerful treasury management platform that puts real-time liquidity and risk insights at corporate treasurers’ fingertips.
Banking-as-a-Service extends many of these capabilities to smaller financial institutions, giving them access to top-tier tools without heavy upfront investment.
Security and usability underpin every launch. Transactions are shielded by state-of-the-art encryption, while intuitive design ensures that seasoned finance professionals and newcomers alike can move confidently through each digital channel.
FAB also pushes boundaries through strategic partnerships and bespoke integrations. Its Virtual Account Management API, for example, lets wallet providers monitor funds and reconcile transactions in real time.
Finally, customer engagement has taken a leap forward with Sofi, the bank’s AI-powered chatbot. Drawing on natural language processing, Sofi offers contextual, conversational assistance around the clock, underscoring FAB’s commitment to service that is not only digital, but genuinely intelligent.
Best digital bank for SMEs 2025: Wio Bank
Wio Bank has emerged as the UAE’s leading digital bank for small and medium-sized enterprises, pairing rapid growth with relentless innovation.
Wio Business multiplied its lending portfolio more than fivefold, pushing asset balances to about Dh250 million – roughly 30% of its total book within only six months of launch. New credit cards tailored for working capital cycles sit alongside innovative facilities such as Quick Cash lines of credit and point-of-sale receivables-backed lending, giving SMEs the agility they need to thrive in a competitive landscape.
As of the end of the review period, the Wio Business platform had welcomed more than 90,000 SME customers – registering a 2x growth over the past year – adding roughly 5,000 new businesses each month and sustaining an active engagement rate above 80%. Today, two out of every five new business accounts in the UAE are opened with Wio, underscoring the bank’s dominant market presence.
A contributing factor to this success is the bank’s frictionless onboarding journey: SMEs can open an account in as little as 48 hours thanks to AI-powered document processing that sweeps away the paperwork and delays typical of traditional banks. Once on board, customers find a growing suite of purpose-built products that tackle their day-to-day financing challenges.
Best bank for homeowners 2025: Mashreq
Integrating advanced digital workflows, Mashreq’s platform for homeowners reimagines the UAE mortgage experience through speed, simplicity, and customer-centric design.
The strength of Mashreq’s platform lies in its seamless integration with key financial systems, including the Al Etihad Credit Bureau and the UAE Funds Transfer System. By automating credit and income checks, it dramatically streamlines the entire application journey and delivers mortgage approvals in as little as ten minutes – an extraordinary improvement over traditional turnaround times.
Mashreq’s innovative solution gives prospective homeowners instant, human-free approvals in principle. In the two years since its launch, the platform has already captured more than 30% of salaried mortgage case submissions, a testament to both its effectiveness and the trust it inspires. During 2024 alone, it approved mortgages worth Dh365 million.
Praised for its intuitive design, the platform has transformed the mortgage application experience into something strikingly efficient and user friendly. Its reputation is reinforced by strategic partnerships with more than 27 mortgage brokerage firms – the largest network of its kind in the UAE – extending accessibility and service breadth to a wide range of customers.
Mashreq’s commitment to digitisation is underlined by ambitious projections: the bank expects the platform to process over Dh1 billion in approvals each month across more than a thousand applications.
These targets underscore not only the system’s capacity and scalability but also Mashreq’s role as a catalyst for home ownership in the UAE.
Best for independent advisory 2025: Alpen Capital
Within the competitive world of financial consultancy, Alpen Capital has become the benchmark for independent advisory services in the UAE, earning its reputation through exceptional client relationships and consistently effective solutions.
The firm’s success rests on relationships rooted in trust. By listening carefully and tailoring its advice to each client’s goals, Alpen Capital has achieved industry-leading retention rates; feedback is treated as an ongoing conversation, and disciplined follow-up processes turn suggestions into tangible improvements.
Innovation is equally central to its approach. Advanced analytics and artificial intelligence now power its advisory platform, sharpening investment insights and boosting efficiency and predictive accuracy.
A commitment to sustainable finance further distinguishes Alpen Capital. Environmental, social and governance considerations are woven into every recommendation, enabling investors to capture financial value while supporting responsible growth.
The firm’s emphasis on diversification showcases its agility. By allocating capital across a broad spectrum of asset classes without compromising the rigour of its strategies, Alpen Capital cushions portfolios against volatility and sustains steady, long-term performance.
Best bank for ESG 2025: Emirates NBD
Emirates NBD has shown a clear commitment to sustainable finance, alongside a culture of integrity and accountability across the financial services industry.
Its creation of the Sustainable Finance Forum underlines a strong approach to governance, ensuring that non-financial risks are managed in line with the bank’s Environmental and Social Risk Policy framework.
Flagship product launches – including the UAE’s first private sector ESG-linked working capital loan and the Emirates NBD Sustainable Fixed Deposit launched for retail customers in August 2024 – demonstrate how environmental and social objectives are woven directly into day-to-day business.
The bank has also strengthened its ethical foundations through a comprehensive whistleblower policy that encourages openness and empowers employees and partners to speak up about any misconduct. By focusing on prevention and strict compliance, the policy helps the organisation tackle potential fraud or malpractice in its operations and supply chain before problems escalate.
Emirates NBD’s impact extends beyond its own balance sheet. Its associate, Emirates Islamic, issued the region’s first sustainability sukuk – $750 million listed on Nasdaq Dubai – issued after new guidance from international and regional standard-setters such as ICMA and LSEG.
Meanwhile, the bank’s investment arm, EmCap, executed 29 ESG-labelled deals worth more than $27 billion across the UAE, Saudi Arabia, Turkey and the Far East, underlining Emirates NBD’s reach and influence in responsible capital markets.
Best bank for sustainable finance 2025: First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) has reinforced its position as a UAE leader in sustainability by raising its sustainable finance target to $135 billion. The bank plans to lend, invest, or facilitate more than half of this amount by 2030.
Within the Middle East and North Africa (MENA), FAB ranks first in sustainable finance coordination and is among the global top ten by deal count and volume, according to Refinitiv and Dealogic. In 2024, the bank achieved a more than 40% increase in sustainable financing transactions compared to 2023.
Recent landmark financings include particpation in the lender group for the $1.5 billion off-grid multiutilities project supporting regenerative tourism in Amaala. FAB also acted as sole green loan coordinator for Dubai Electricity and Water Authority’s (DEWA) $920 million PV solar project, underscoring its ability to lead complex, high-value transactions.
The bank’s advisory capabilities are equally strong. It has helped corporates such as Emirates Global Aluminium develop and enhance green finance frameworks that align with global standards.
Internally, FAB has embedded environmental, social, and governance considerations into client engagement and risk management through a dedicated ESG risk policy and assessment toolkit.
FAB’s appointment as Chair of the Net Zero Banking Alliance Steering Group further elevates its influence, allowing it to help steer the climate transition in financial services.
