In an indicator that reflects the strength of its financial solvency and the enjoyment of strong revenues
46.9 billion dirhams, the profits of 10 national banks in 2022
Banks' net profits increased by 32%.
The net profits of 10 national banks listed in the local financial markets increased to 46 billion and 964 million dirhams during the past year, reflecting the strength of their financial solvency and their enjoyment of strong revenues and high liquidity, benefiting from the recovery of the national economy after the full recovery from the repercussions of the “Covid-19” pandemic. .
Monitoring by the Emirates News Agency, based on the disclosures of the listed banks announced on financial market websites, showed that the net profits of banks, during the period from January to December 2022, increased by 32%, or the equivalent of 11.3 billion dirhams, compared to net profits amounting to 35 billion and 667 million. dirhams during 2021.
The profits of six banks listed on the Abu Dhabi Stock Exchange during the past year amounted to 24 billion and 616 million dirhams, an increase of 17.9%, compared to profits of 20 billion and 879 million dirhams in 2021.
In turn, the profits of four banks listed on the Dubai Financial Market amounted to 22 billion and 347 million dirhams in 2022, an increase of 7.6 billion dirhams, or 51%, compared to 14 billion and 787 million dirhams in 2021.
First Abu Dhabi Bank acquired the largest share of the total profits, after recording net profits of about 13.4 billion dirhams during 2022, an increase of 7%, compared to 2021, while Emirates NBD’s profits increased by 40%, to reach 13 billion dirhams.
In turn, the net profit of Abu Dhabi Commercial Bank increased to 6.434 billion dirhams, a growth of 23%.
Dubai Islamic Bank achieved a record growth in net profits by 26% year on year, to reach 5.55 billion dirhams.
The net profit of Mashreq Bank grew to 3.7 billion dirhams, while Abu Dhabi Islamic Bank achieved a net profit of 3.62 billion dirhams, a growth of 55% on an annual basis.
The net profits of Emirates Islamic jumped to a record level of 1.24 billion dirhams for the year 2022, a growth of 51%, at a time when the net profits of Sharjah Islamic Bank increased by 26.7% to 650.9 million dirhams.
For its part, the National Bank of Fujairah recorded a net profit of 340.4 million dirhams, an increase of 195.3%, while the profits of the Commercial International Bank grew by 15%, recording 150 million dirhams in 2022.
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