Real Madrid President Florentino Perez this week unveiled the altered logo, which appears on a credit card issued by the bank that doubles as a membership card for the team, Spanish sports website Marca reported.
It is believed the European champions' new crest, without the cross, was created so as not to offend Muslim sensibilities in the United Arab Emirates, where a marketing drive will take place.
Perez labeled the deal, signed in September, with National Bank of Abu Dhabi a "strategic alliance with one of the most prestigious institutions in the world."
"I know that the local people experience every match in a special way and that our links with the UAE are constantly growing stronger," Perez was quoted as saying some months ago.
"This agreement will help the club to keep conquering the hearts of followers in the United Arab Emirates.” Marca noted, however, that "from the looks of things, the club is willing to compromise on aspects of its identity in pursuit of these new fans."
However, according to the Telegraph, the club's original logo will still be used in Europe.
Last year, the club reached a new shirt sponsorship deal with Emirates airline for five seasons.
"It is a new era for two global brands that will help us in our time. "It is one of the most important agreements in the history of the club," he said.
No official figures were released for the sponsorship deal which is reported by media to be worth up to 30 million euros ($38.9 million) a year. Madrid's famous white strip has since carried the slogan "Fly Emirates."
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