UAE bank branches fall to 665 in November

Standard Chartered has closed two of its branches in the country

  
General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

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UAE – The number of bank branches in the UAE decreased by 8 in November, comprising six local bank branches and two foreign bank branches.

The total number of bank branches in the UAE reached 665 in November 2020, according to the latest data by the Central Bank of the UAE (CBUAE).

Standard Chartered has closed two of its branches in the country, while Abu Dhabi Commercial Bank (ADCB) has shut six branches in November.

Meanwhile, the foreign banks have 24 digital units across the UAE, whereas the local banks have 33 digital banking service units.

Since the beginning of 2020, 96 branches were closed, including 94 local bank branches.

Source: Mubasher

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