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10.1m credit and debit cards in the UAE

Number of ATMs increased to 4,492 in 2012, compared to 4172 in 2011

Gulf News

Abu Dhabi: The number of credit and debit cards increased in 2012 to 10.4 million compared to 10.125 million cards in 2011, an increase of 296,000 cards compared to 2011, The Central Bank said in a statement.

“The rise in credit and debit cards recorded a 2.3 per cent increase in 2012 compared to 2011, with the biggest increase in the third quarter of 2012, when banks issued more than 243,000 cards,” said the bank.

The Central Bank revealed that the total transactions performed through these cards in 2012 was 387.8 million transactions, compared to 361.6 million in 2011, an increase of 26.2 million transactions.

“The total amount of these transactions increased by 10 per cent, up from Dh365.7 billion in 2011 to Dh4.1.2 billion in 2012”

ATMs increased in 2012

The Central Bank said that the number of ATMs had increased by 320 machines in 2012 to reach 4,492, up by 7.7 per cent.

“The top four banks with highest number of ATMs throughout the country were: Emirates NBD with 697 machines, the National Bank of Abu Dhabi with 550 machines, Abu Dhabi Commercial Bank 540 machines and Dubai Islamic Bank with 434 machines,” the bank said.

The figures showed that the ATMs had increased drastically in the UAE since 2006.

“The number of ATMs had increased from 1690 in 2006 to 4492 in 2012, an increase of 2802 machines which represents more than 160 per cent hike,” according to the Central Bank.

Abdullah Kanaan, a UAE-based economist, told Gulf News that the increase in the ATMs and the financial transactions in the country represent the transformation towards automated and online transactions to save time and the number of ATMs represents the economic boom in any country.

“The more ATMs, the more economic progress and development in the country,” said Kanaan.