Combined Profits of Four DFM - Listed Banks Soar to AED 13.2 Bn in 2018Source: www.export-egypt.com 1/22/2019, Location: Middle East |
|
|
|
|
|
In yet a new sign of the resilient financial fundamentals enjoyed by the UAE banking system, the combined profits of four UAE-based banks listed on Dubai Financial Market amounted to AED13.2 bn in 2018, a growth of 17.5 percent on year.
According to statistics released by the Central Bank of the United Arab Emirates, the total assets of UAE banks hit a record of AED2.85 trillion in November. In more detail, the profits of the Emirates NBD soared to AED10.04 bn in 2018, up 20 percent from AED8.345 bn in 2017, driven by a significant rise of 13 percent in operating income to AED17.40 bn against AED15.46 bn in 2017 in addition to the fall in allocations of asset depreciation to AED1.748 bn from AED2.228 bn during the same period in 2017. The net profits of Mashreq Bank increased as well to circa AED2.1 bn from AED2.05 bn in 2017, partly driven by a 17 percent drop in allocations for bad debt and loan losses, according to the Bank. The net profits of Emirates Islamic Bank increased to circa AED925 million, a 32 percent rise from AED702 million in 2017. Ajman Bank's profits were up to AED170 million from AED132 million during the same period. According to the statistics, the combined profits of 19 listed Emirati banks increased to AED38.2 bn in 2017 from AED35.67 bn in 2 |
|
|
Financials and Investment News in United Arab Emirates >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| United Arab Emirates Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | |
