45 billion dirhams in net profits for 16 listed companies

Youssef Al Bustanji (Abu Dhabi)

The net profits of 16 national companies listed on local stock markets increased by 13% by the end of the first nine months of this year, to reach 44.9 billion dirhams, an increase of 5.2 billion dirhams, compared to the net profits they achieved in the equivalent period of 2023, amounting to 39.7 billion dirhams according to the financial statements published so far.
Data for the 16 companies listed on the local financial markets showed that the total value of the operating income they achieved in the first nine months of this year registered a significant increase of 14.8% to reach 97.8 billion dirhams , an increase of 12.6 billion dirhams, compared to that. to its value reaching 85.2 billion dirhams in the period The interview is from 2023.
It should be noted that the growth rates in net profits and operating income in the first nine months of 2024, for listed national companies, reflect the levels of great activity that it was recorded by business sectors in the local market, and strengthens confidence in the continued recovery of the group. The national economy of the UAE in general, which is expected to exceed 4% in the period 2024 and 5.2% next year 2025, according to the estimates of the International Monetary Fund.
Data for national companies that have published their business results so far revealed that 12 national banks listed on local stock markets registered a growth in their net profits of 4.6 billion dirhams, equivalent to a growth of 11.8%, to reached 43.8 billion dirhams in the first one. nine months of 2024, compared to With 39.2 billion dirhams in the corresponding period of 2023.
The national banks that have published their financial statements in the first nine months of 2024 so far are: “First Abu Dhabi”, “Emirates NBD”, “Abu Dhabi Commercial”, “Bank of Sharjah”, “Sharjah Islamic Bank”, and “International Commercial”, “Umm Al Quwain National Bank”, “Ras Al Khaimah National Bank”, “United Arab Bank”, “Emirates Islamic Bank”, “Dubai Commercial Bank”, and ” Ajman Bank”.
The results of the banks that revealed their quarterly data showed that their total operating income rose by 9%, equivalent to an increase of 7.2 billion dirhams, to reach 86.9 billion dirhams in the first nine months of 2024, compared to 79.7 billion dirhams in the The total value of the assets of the 12 banks increased, at approximately 282.2 billion dirhams until the end of September 2024, bringing the total value to 3.353 trillion dirhams, equivalent to a growth of 9.2 % in the first nine months. this year.
Data from four other national companies that disclosed their data, namely “NMDC Energy”, “Easy Lease”, “Palms Sports”, and “Ibex”, showed that they were able to increase their net profits by 564 . million dirhams, equivalent to a growth of 113%.
The four companies also achieved a total operating income of 10.9 billion dirhams in the same period, an increase of 5.4 billion dirhams, equivalent to a growth of 99% compared to the total operating income achieved in the corresponding period of 2023, amounting to 5.5 billion dirhams. .
The total assets of the four companies increased by 2.8 billion dirhams to reach 19.4 billion dirhams at the end of September 2024, a growth of 17% compared to 16.5 billion dirhams at 31 December 2023.