Wio has grown from a 2022 launch into one of the UAE's most visible digital banks: AED 61 billion in assets and AED 622 million in net profit for 2025. For a new UAE resident it is a fast way into the banking system; for a non-resident it is not an option.
Who they are and the licence
Wio Bank PJSC is incorporated in Abu Dhabi and licensed and regulated by the Central Bank of the UAE (CBUAE) (Wio, investor relations). It is a bank in its own right, not a fintech brand on another bank's balance sheet. Its strategic shareholders are ADQ, Alpha Dhabi, e& and First Abu Dhabi Bank (FAB). The bank marked its first anniversary in September 2023 (Wio press centre).
For 2025, its third full year of operations, Wio reported revenue of AED 1.24 billion (up 55%) and net profit of AED 622 million (up 57%); total assets reached AED 61 billion at 31 December 2025 (up 64%) and customer deposits exceeded AED 57 billion (up 66%) (Wio FY2025 results release). Audited 2025 financial statements are published on the investor-relations page.
Products
- Wio Business: accounts for UAE-licensed companies and freelancers, business cards, supply chain finance (over AED 1 billion financed in 2025), point-of-sale lending, SME credit cards and integrations with accounting and tax platforms. More than 120,000 businesses use Wio as their main business bank (same release).
- Wio Personal: retail accounts, savings and payroll banking; more than 270,000 individuals use Wio as their primary bank. Wio Family, a shared household banking proposition, launched in the fourth quarter of 2025.
- Wio Invest: investing inside the app. The bank announced a partnership with Fuze in November 2023, and Wio Invest passed USD 1 billion in assets under administration in July 2025 (Wio press centre).
Who gets in
Wio Personal is opened in the app with an Emirates ID or a UAE visa: the bank verifies identity with a photo of the Emirates ID or the UAE work visa and a selfie (Wio Personal). Wio Business requires a UAE trade licence, proof of address and an identity scan with a video verification of each business partner (Wio Business onboarding). A person with no UAE residence or UAE company is outside Wio's model: residency or a UAE licence comes first, the account second. Classic banks with non-resident programmes are compared in UAE banks.
Clients with Russian ties go through the usual UAE bank checks: sanctions screening, a documented source of funds and a genuine connection to the Emirates.
Onboarding
The process is fully digital. Wio says a personal account can be opened in minutes without branch visits, and that a business is "up and running in 3 working days" once documents are processed. Complex ownership structures draw additional questions.
Risks and what to factor in
The practical backstop is CBUAE supervision and the strength of the bank and its shareholders, so large balances are usually spread across independent licences. The track record is short: 2025 was only the third full year. Wio is an operating bank for residents and SMEs, not a venue for multi-layer holdings and trusts.
Q/A
Access
Can a non-resident open a Wio account?
No. Personal accounts are verified with an Emirates ID or a UAE work visa, and business accounts need a UAE trade licence. A non-resident needs UAE residence or a UAE company first, or a classic bank with a non-resident programme.
How long does onboarding take?
A personal account opens in the app in minutes; Wio says businesses are up and running in 3 working days, longer for complex ownership.
Safety and fit
How safe is Wio without deposit insurance?
It is a CBUAE-licensed, profitable bank with AED 61 billion in assets and ADQ, Alpha Dhabi, e& and FAB as shareholders. No UAE bank offers a fixed protection limit, so large balances are best spread.
Wio or a classic UAE bank?
Often both. Wio wins on speed, interface and cost for day-to-day SME operations; larger classic banks are the usual choice for credit lines, private banking and complex structures.