Top ten UAE banks net income jumps 24.4% to $3.43bln
The top ten UAE banks’ net income jumped 24.4% to AED12.6 billion ($3.43 billion) in the second quarter (Q2) driven by better asset quality, improved profitability and margins, said Alvarez & Marsal (A&M).
The country’s 10 largest listed banks are First Abu Dhabi Bank (FAB), Emirates NBD (ENBD), Abu Dhabi Commercial Bank (ADCB), Dubai Islamic Bank (DIB), Mashreq Bank (Mashreq), Abu Dhabi Islamic Bank (ADIB), Commercial Bank of Dubai (CBD), National Bank of Fujairah (NBF), National Bank of Ras Al-Khaimah (RAK) and Sharjah Islamic Bank (SIB).
Total interest income of the banks grew drastically by 19.5% QoQ (quarter-on-quarter) in Q2’22, boosted by higher interest income, said A&M, leading global professional services firm, in its latest United Arab Emirates Banking Pulse for Q2 2022.
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