UAE’s top-four banks to maintain stable profitability into 2019, report says - The National

UAE’s top-four banks to maintain stable profitability into 2019, report says - The National:

The UAE’s top four banks have performed well in the second quarter of this year on the back of higher net interest income and lower provisioning for bad loans and are forecast to maintain “stable” profitability into 2019, according to a new report.

First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank and Dubai Islamic Bank posted a combined 21 per cent year-on-year increase in second quarter net profit to Dh8 billion, Moody’s Investors Services said in a report released on Wednesday.

"We expect core profitability for the large UAE banks to remain broadly stable over the next 12-18 months, as interest earnings hold steady at current levels," said Nitish Bhojnagarwala, Vice President -- Senior Credit Officer at Moody's