The Big Numbers Race: Mashreq, ADIB compete for UAE top-five status

Competition among UAE banks continues to shape the market landscape, amid differences in business scale and growth rates across banking activities.

Mashreq and Abu Dhabi Islamic Bank (ADIB) are among the most prominent players in this competition, given their relatively close size and differing performance across several key financial indicators.

According to June 2026 data, Mashreq ranks fifth among UAE banks, while ADIB ranks sixth.

In terms of financial position, Mashreq’s total assets reached about USD 99.59 billion at end-June 2026, compared with USD 82.75 billion at ADIB.

In deposits, ADIB maintained its lead, with deposits reaching about USD 66.89 billion at end-June 2026, compared with USD 61.86 billion at Mashreq.

Mashreq, meanwhile, held the advantage in financing activity, with its portfolio reaching USD 62.93 billion at end-June 2026, compared with USD 58.34 billion at ADIB.

While the June 2026 figures reflect the current balance of competition, understanding how this position developed requires examining growth trends in recent years. Both banks have expanded strongly since end-2022, although growth rates have differed across banking activities.

Mashreq’s total assets grew 84 per cent over the period, compared with 80.3 per cent at ADIB. This widened the asset gap between the two banks to USD 16.84 billion at end-June 2026 from USD 8.24 billion at end-2022, reflecting Mashreq’s stronger position in terms of total assets.

In deposits, Mashreq recorded growth of 99.6 per cent over the past three years, compared with 77.8 per cent at ADIB over the same period.

Although ADIB continued to hold the larger deposit base, Mashreq’s faster growth helped narrow the gap between the two banks to USD 5.03 billion at end-June 2026 from USD 6.63 billion at end-2022, reflecting the faster pace of its expansion in this activity.

In financing, Mashreq recorded growth of 156 per cent over the past three years, compared with 90.9 per cent at ADIB. This enabled Mashreq to overtake ADIB in the size of its financing portfolio after trailing it at end-2022, with the gap reaching USD 4.60 billion in Mashreq’s favour at end-June 2026.

On profitability, Mashreq reported net profit of USD 1.10 billion in H1 2026, with return on average assets (ROAA) of 2.31 per cent and return on average equity (ROAE) of 19.13 per cent.

ADIB, meanwhile, reported net profit of USD 1.02 billion in H1 2026, with ROAA of 2.57 per cent and ROAE of 23.22 per cent, reflecting higher efficiency in generating returns on assets and shareholders’ equity.

On the capital side, ADIB continued to maintain a larger capital base, with capital reaching USD 988.92 million at end-June 2026, compared with USD 546.22 million at Mashreq.

These indicators point to a relatively balanced competitive position between the two banks, with each holding an advantage across different key financial measures.

Mashreq strengthened its position through a larger asset base, overtaking ADIB in financing activity and recording higher net profit in H1 2026, while ADIB continued to lead in deposits and recorded higher returns on average assets and average equity.

The balance of competition between the two banks will therefore remain linked to each bank’s ability to strengthen its areas of advantage and translate them into sustainable growth, potentially reshaping the competitive landscape between them in the coming years.