36.3 billion dirhams, net profits of 17 national banks during the past year

Emirates Islamic shifted from loss in 2020 to profitability last year.

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17 national banks achieved net profits of 36.3 billion dirhams, almost touching the levels of profits prevailing before the spread of the “Corona” pandemic, according to a monitoring conducted by “Emirates Today”, from the reality of the announced financial statements, for 17 national banks out of 18 listed in the capital markets. local.

Together, these banks succeeded in achieving an annual growth of 33% from last year, compared to 2020, which recorded net profits of 27.3 billion dirhams.

Analysis of the data shows positive double-digit growth for 15 banks, while the profits of one bank, which is Mashreq Bank, declined, and one bank recorded a loss, which is Bank of Sharjah.

Commercial International Bank achieved the highest annual growth in profits by 294%, followed by Emirates Islamic Bank with 270.7%, and Emirates Investment Bank with 203%.

In terms of value, First Abu Dhabi Bank ranked first with a net profit of 12.5 billion dirhams, followed by Emirates NBD with a value of 9.3 billion dirhams, and then Abu Dhabi Commercial with a value of 5.2 billion dirhams.

Banks’ profits shifted from loss in 2020, to profitability, last year, which is Emirates Islamic Bank, which succeeded in achieving profits of 823 million dirhams last year, compared to losses of 482 million dirhams during 2020, as well as Bank of Fujairah, which achieved 115 million dirhams, Profits, after the year 2020, recorded losses of 457 million dirhams, then United Arab Bank, which achieved a net profit of 70 million dirhams last year, compared to losses of 667 million dirhams during the year 2020.

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