FGB tops efficiency ratios among UAE banks

In a study undertaken by Credit Suisse, amongst the other banks of UAE, First Gulf Bank (FGB) has been assessed as the bank having the maximum efficiency ratio, with its cost-to-income ratio of 20.9% for 1H09.

FGB is one of the most efficient banks in the world, with its cost-to-income ratio being 22.2% in 1Q09; and it has maintained the same efficiency ratio through 1H08 and 1H09
- about 20%. It has strictly controlled its cost by Dhs36m i. e 12%, quarter-on-quarter basis.

This ratio of the National Bank of Abu Dhabi declined from 24.53% to 26.44% in 1H09.

However, the efficiency ratio of Mashreq bank increased to 37.53% in 1H09, from 36.62% in 1H08, as it failed to control it.

Similarly, the efficiency ratio of Abu Dhabi Commercial Bank's too increased from 31.11% to 33.37% during this period.

However, Emirates NBD improved its efficiency ratio from 37.42% in 1H08 to 32.84% in 1H09.