The UAE had the largest banking sector in the Arab World towards the end of 2009, controlling nearly 18 per cent of the combined financial resources, and emerging as the top lender in the region, according to banking data.Emirates NBD (ENBD) maintained its position as the biggest bank in the region in terms of assets, which stood at about $79 billion (Dh290bn) at the end of September 2009, showed figures by the Beirut-based Union of Arab Banks (UAB).

In a study on banks in the Gulf Cooperation Council (GCC), UAB said banks in the six GCC states controlled more than half the total assets, deposits, loans and capital of the Arab World's 470 banks at the end of September 2009."UAE banks control the largest banking sector in the Arab World, with their combined assets standing at $408bn at the end of September 2009. They accounted for nearly 31.9 per cent of the GCC's total bank assets and about 18 per cent of the combined assets of Arab banks," the study said.