The comparative analysis is conducted to ascertain the performance of Conventional and Islamic Banks operating in the UAE for 5 years from 2014-2018. In order to compare, the author has chosen top 6 Conventional and Islamic banks, respectively, operating in the country. Several ratios are chosen to compare both Islamic and conventional banks. As per the Central Bank of UAE website, banks are classified into locally incorporated banks and branches of foreign banks which have obtained licenses to operate in the UAE. Accordingly, as at 30 June 2019, there are 22 local national banks, 27 branches of foreign banks and 11 wholesale foreign bank branches. Among the locally incorporated banks, there are 6 Islamic banks. Given the consolidation that is happening in the UAE economy, some of the Islamic banks are on the brink of getting merged with other local UAE based banks. Although there is demand for Islamic products, UAE Islamic banks enjoy a relatively small market share as compared to its conventional counterparts.