Saudi Arabia's benchmark index (.TASI) rose 0.9%, boosted by a 1.8% gain in Al Rajhi Bank (1120.SE) and a 8.9% surge in Bank Al Jazira (1020.SE), which reported an increase in its quarterly net profit.
Elsewhere, Saudi National Bank (SNB) (1180.SE) closed 0.9% higher. The kingdom's largest lender posted a 20.3% rise in first-quarter net profit on Monday with lower impairments and higher fees, in a sign that the economy has been recovering from last year's pandemic lockdowns. read more
In Dubai, the main share index (.DFMGI) gained 0.7%, with Emirates NBD Bank advancing 2.1%, while Dubai Islamic Bank (DISB.DU), the United Arab Emirates' largest lender, closed 0.9% higher.
The Abu Dhabi index (.ADI) added 0.5%, bolstered by a 0.7% gain in top lender First Abu Dhabi Bank (FAB.AD) while telecoms giant Etisalat (ETISALAT.AD) was up 0.6%.
Abu Dhabi Commercial Bank (ADCB.AD) finished 2.3% higher, after the United Arab Emirates' third-biggest lender reported soaring profit as it recovers from impairments linked to troubled hospital operator NMC Health. read more
ADCB reported first-quarter net profit of 1.1 billion dirhams ($299.50 million), a 436% increase year-on-year.
In Qatar, the benchmark (.QSI) gained 0.4%, bolstered by a 3.4% jump in Commercial Bank (COMB.QA) after the lender reported a net profit of 602.7 million riyals ($165.58 million) for the first-quarter, up from 402.1 million a year earlier.
Among others, petrochemical maker Industries Qatar (IQCD.QA) gained 0.4% following an increase in its first-quarter net profit.
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