AED 24.5 billion profit made by 18 UAE banks in 6 months

The net profit of 18 UAE listed banks in the financial markets reached AED 24.5 billion in the first half of 2019, up 16.6 percent from AED 21 billion in the same period of 2018.

It is clear from the financial statement statistics of the national banks, all of which have completed the publication of their results, that the UAE banking sector continues to enjoy sustained activity, despite the slowdown in its counterparts in the region.

In terms of the profitability of the 7 banks listed on the Dubai Financial Market (DFM), its net profit reached 12.9 billion AED in the first half of this year, an increase of 32.4% compared to 9.74 billion AED for the same period of 2018.

Regarding the 11 banks listed on the Abu Dhabi Stock Exchange, its net profit reached AED 11.6 billion in the first half of this year, up 3.5% from 11.2%. billion AED in the first half of 2018.

Emirates NBD came in first place in terms of profits made at the end of June last year, amounting to about 7.5 billion dirhams, against 5 billion dirhams the same month last year.

The increase in profits in the first half is due to a 13% increase in operating income, to AED 9.53 billion, compared to AED 8.45 billion in the first half of 2018, as well as a non-recurring profit. AED 2.07 billion in the first half of 2019 due to the sale of a stake in the company. Jointly controlled.

The Islamic Bank of Dubai ranks second on the list of banks listed on the Dubai financial market with a net profit of 2.72 billion dirhams at the end of the first half of 2019, against a profit of nearly 2.4 billion dirhams for the same period in 2018.

Among the banks listed on the Abu Dhabi Stock Exchange (ADSM), First Abu Bank Bank was the first with profits of 6.33 billion AED in the first half of this year, against 6.05 billion AE for the same period of 2018.

ADCB made a profit of 2.33 billion AED in the first half of this year, almost the same level as the same period in 2018.