Abu Dhabi, UAE – Seven listed banks in the UAE reported a net profit of AED33.125 billion ($9 billion) in 2022.
The highest share of the overall profits was claimed by the country’s main lender, First Abu Dhabi Bank (FAB), which generated net profits of roughly AED13.4 billion ($3.64 billion), a growth of 7 percent from 2021.
Emirates NBD’s profits climbed by 40 percent to AED13 billion ($3.53 billion) in 2022.
Dubai Islamic Bank’s net earnings increased by a record 26 percent YoY to AED5.552 billion ($1.4 billion) from AED4.406 billion ($1.1 billion) in 2021.
Sharjah Islamic Bank’s operating profits rose by 17.4 percent to AED998.3 million ($272 million), and its net profits were 26.7 percent up to AED650.9 million ($177 million), the bank’s highest profit ever since it was founded.
The National Bank of Fujairah reported a net profit of AED340.4 million, a rise of 195.3 percent from AED115.2 million in 2021. Additionally, the bank recorded its largest operating profit ever, amounting to AED1.2 billion.
The Commercial Bank International saw a 15 percent increase in profits, going from AED131 million in 2021 to AED150 million in 2022. Its quarterly net profit increased by 11 percent from AED45 million in Q3-22 to AED50 million for the fourth quarter.
Other listed banks will release their annual results and dividend payout ratio in the coming days, including Mashreq Bank, Abu Dhabi Commercial Bank, and Abu Dhabi Islamic Bank.
