How profitable were the UAE’s top banks?
Combined net profits of 18 banks listed on the UAE’s financial markets rose to $6.67bn in the first half of 2019
The combined net profits of 18 national banks listed on the UAE’s financial markets rose to AED24.5 billion ($6.67 billion) in the first half of 2019, compared to AED21 billion in the same period of 2018, an increase of 16.6 percent.
The total profits of the seven banks listed on the Dubai Financial Market increased to AED12.9 billion, an increase of 32.4 percent, state news agency WAM reported.
The 11 banks listed in the Abu Dhabi Securities Exchange recorded net profits amounting to AED11.6 billion, a growth of 3.5 percent, WAM added.
In Dubai, Emirates NBD was ranked first in terms of profits, reaching AED7.5 billion at the end of June, compared to AED5 billion in the same period last year.
In Abu Dhabi, First Abu Dhabi Bank ranked first, with profits amounting to AED6.33 billion in the first half of this year, compared to AED6.057 billion in the same period of 2018.
Published: August 10, 2019
Source : Arabian Business