Abu Dhabi – Mubasher: The net profits of 17 banks listed on the UAE capital markets rose to 24.179 billion dirhams in the first half of this year.
The net profits of 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 17.213 billion dirhams during the same period last year 2021, according to the Emirates News Agency “WAM”.
The profits of 10 banks listed on the Abu Dhabi Stock Exchange in the first half of this year amounted to 13.815 billion dirhams, an increase of 42.6% compared to 9.686 billion dirhams in the same period last year.
The profits of 7 banks listed on the Dubai Financial Market amounted to about 10.362 billion dirhams in the first half of 2022, an increase of 37.7%, compared to 7.526 billion dirhams in the corresponding period of 2021.
First Abu Dhabi Bank accounted for the largest share of the total profits, after recording net profits of about 8 billion dirhams during the first half of this year, an increase of 50% compared to the same period in 2021.
Emirates NBD’s profits 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 profit by 45% on an annual basis to reach 2.7 billion dirhams, compared to 1.86 billion dirhams for the same period in the previous 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.
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.
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, with a year-on-year growth of more than 72%.
The net profit of Sharjah Islamic Bank grew to 361.9 million dirhams in the first half of this year, an increase of 25% compared to 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 the National Bank of Fujairah recorded a growth of 97.5% on an annual basis, achieving a net profit of 150.5 million dirhams in the first half of this year.
The profits of the 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 a net profit of 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.
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