National Bank of Dubai
National Bank of Dubai was founded in 1963 and described as the first national bank in the UAE. It merged with Emirates Bank International in 2007 to form Emirates NBD.
Industry: Banking | Location: Dubai, United Arab Emirates | Founded: 1963
About National Bank of Dubai
National Bank of Dubai was a bank in Dubai, United Arab Emirates, founded in 1963. It operated under its own name until 2007, when it merged with Emirates Bank International to form Emirates NBD. It no longer trades as a separate institution, and Emirates NBD is its successor.
Emirates NBD says the bank's origins lie in 1963, when Sultan Al Owais and a group of merchants approached Sheikh Rashid bin Saeed Al Maktoum, then Ruler of Dubai, about creating the first national bank in the country. It was set up to support the emirate's growing prosperity after the discovery of oil, and it started with one branch and a handful of clients. Both the bank's 2023 anniversary statement, published by the Dubai Media Office, and Gulf News describe it as the first national bank in the UAE.
The merger of National Bank of Dubai and Emirates Bank International was completed in 2007 and created Emirates NBD. According to Wikipedia, the shares of Emirates NBD were listed on the Dubai Financial Market on 16 October 2007.
In June 2023 Emirates NBD marked 60 years since the founding of National Bank of Dubai. At that point it reported more than 17 million customers in 13 countries, 879 branches and more than 30,000 employees, with operations in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the United Kingdom, Austria, Germany and Bahrain.
A TechScoop article published on 22 June 2026 reported that Emirates NBD had completed the purchase of a 60 percent stake in India's RBL Bank on 18 June 2026, through a primary capital infusion of about USD 2.75 billion.