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ATMs increase in UAE

ATMsThe number of ATMs operated by banks in the UAE is 5274 by the end of March against 5211 in the same month in 2017. Statistics released by the central bank showed that the number of national banks in the country stood at 22, with their branches decreasing from 834 to 761 during the period. Electronic service units operated by these banks dropped from 35 to 32 while money exchange companies dropped from 72 to 48. GCC banks operating in the country remained 6 with 4 branches, while foreign banks increased from 20 to 21, with 77 branches against 81 in the same monitored period. By the end of Q1 2018, the number of financial entities operating under the UAE Central Bank’s mandate and supervision reached 20 financial investment companies and 11 brokerage firms, along with 12 commercial banks, 27 financing companies, 102 bank representation offices and 30 money exchange companies.

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