243 ATMs enter service in 15 months

The number of ATMs operated by banks operating in the country rose to 4,469 by the end of the first quarter of this year, according to the latest statistics from the Central Bank of the UAE.

Statistics showed that the banking sector in the country witnessed the entry of 243 new ATMs during 15 months from the end of 2022 to the end of the first quarter of this year.

The increase in ATMs in the country reflects the rapid technological and structural developments witnessed by the financial and banking sector in the country, which contributes significantly to enhancing security and operational efficiency.

In a related context, the number of locally established banks, excluding investment banks, increased by one bank, bringing the total number of banks to 23 banks at the end of the first quarter of this year, compared to 22 banks at the end of last year, while the number of branches reached 484 branches at the end of March 2024.

According to the Central Bank’s statistics, the number of electronic banking services units in banks remained stable at 46 units, and cash offices also remained stable at 21 offices at the end of the first quarter of this year.

The number of Gulf banks operating in the country continued to remain stable at six banks at the end of the first quarter of this year, in addition to one Gulf business bank, and the number of branches of these banks remained stable at six branches.

The number of other foreign banks reached 21 banks with 66 branches, while the number of electronic banking service units of banks remained at 21 units, and the number of bank cash offices remained stable at one cash office during the first quarter of this year.

Statistics showed that the number of financial institutions licensed by the Central Bank, namely: business banks, representative offices, finance companies, and exchange companies, amounted to 11, 72, 17, and 77 institutions, respectively, by the end of the first quarter of 2024.