UAE’s banking sector is the second largest in the GCC with asset growth outstripping GDP since 2000, according to latest official figures. Banks in the UAE were expected to face earnings pressure in 2006 following a record year in 2005, but many of the country’s 46 commercial banks continued to perform well, reporting good earnings despite a weaker stock market in 2006. The UAE has 21 national banks with combined asset, loan and deposit market share of 77.4%, 80.0% and 75.4% respectively. And these banks continue to gain market share over their foreign-owned counterparts – 25 at the last count – due to better access to the UAE government’s hefty deposit pool. Among the national banks, five are Islamic while the rest are conventional; 19 of the national banks are listed on either the Dubai Financial Market (DFM) or the Abu Dhabi Securities Market (ADSM). The UAE stands out as
