It reflects the strength of its financial solvency and its enjoyment of strong revenues and high liquidity

24.2 billion dirhams, profits of 17 national banks listed in the first half

Emirates NBD achieved the highest semi-annual profit since 2019. Archive

The net profits of 17 national banks listed on the local capital markets rose to 24 billion and 179 million dirhams in the first half of this year, reflecting their strong financial solvency, strong revenues and high liquidity.

Based on the disclosures of the listed banks announced on the websites of the financial markets, the net profits of the banks during the period from January to June 2022 increased by 40.5%, or the equivalent of 6.966 billion dirhams, compared to net profits of about 17 billion and 213 million dirhams during the same period last year.

The profits of 10 banks listed on the Abu Dhabi Stock Exchange in the first half of this year amounted to 13 billion and 815 million dirhams, an increase of 42.6% compared to about 9 billion and 686 million dirhams in the same period last year.

While the profits of 7 banks listed on the Dubai Financial Market amounted to about 10 billion and 362 million dirhams in the first half of 2022, an increase of 37.7%, compared to 7 billion and 526 million dirhams in the corresponding period of 2021.

The "First Abu Dhabi Bank" acquired the largest share of the total profits, after recording a net profit of about 8 billion dirhams during the first half of this year, an increase of 50% compared to the same period in 2021. And the profits of "Emirates NBD" increased by 11 % to AED 5.3 billion in the first half of this year, achieving the highest semi-annual profit since 2019.

The results of "Abu Dhabi Commercial Bank" showed that net profits rose to 3.059 billion dirhams in the first half of this year, with a growth rate of 21% compared to the first half of 2021, while "Dubai Islamic Bank" achieved a strong growth in net profits by 45% based on Annually to reach 2.7 billion dirhams, compared to 1.86 billion dirhams for the same period last year.

Mashreq Bank's profits rose to 1.4 billion dirhams in the first half of this year, while operating profits amounted to about 1.9 billion dirhams, an increase of 17%.

The net profit of Abu Dhabi Islamic Bank grew by 30% to reach 1.4 billion dirhams during the first half of this year, compared to 1.1 billion dirhams during the same period in 2021.

And “Commercial Bank of Dubai” recorded a net profit of about 866 million dirhams in the first half of this year, an increase of 28.1% compared to the first half of last year, and the net profit of “Emirates Islamic Bank” increased by 23% to reach 701 million dirhams in the first half of this year. .

The net profit of the National Bank of Ras Al Khaimah increased to 527 million dirhams in the first half of this year, a year-on-year growth of more than 72%, while the net profits of Sharjah Islamic Bank grew to 361.9 million dirhams in the first half of this year, an increase of 25% compared to By 389.5 million dirhams in the same period last year.

The net profit of Umm Al Qaiwain National Bank rose to 165.3 million dirhams in the first half of this year, an increase of 25.7% compared to about 131.48 million dirhams in the comparable period last year.

While "National Bank of Fujairah" recorded a growth of 97.5% on an annual basis, achieving net profits of about 150.5 million dirhams in the first half of this year.

The profits of "United Arab Bank" amounted to 83.27 million dirhams in the first half of this year, with an annual growth rate of 209%.

While the profits of "Ajman Bank" grew by more than 21% to reach 74.9 million dirhams in the first half of this year.

Commercial International Bank’s profits exceeded 55 million dirhams in the first half of this year, after achieving net profits of about 34 million dirhams in the second quarter of 2022, an increase on a quarterly basis by 67% compared to the first quarter of the same year.

• Seven banks listed on the Dubai Financial Market achieved profits of 10.36 billion dirhams, an increase of 37.7%.

Follow our latest local and sports news and the latest political and economic developments via Google news