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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023

The share of foreign banks of the aggregate capital and reserves of UAE-based banks reached US$17 billion at the end of November 2023. (WAM)
  • The aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion during the first 11 months of 2023
  • National banks accounted for 86.5 percent of the total capital and reserves of UAE-based banks logging $113 billion by end of November 2023

ABU DHABI, UAE– The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion (AED481.5 billion) by the end of November 2023 compared to US$114.6 (AED424.9 billion) at the end of the same period of 2022, according to the Central Bank of the UAE’s (CBUAE) statistics.

According to the CBUAE monthly report, the aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion (AED52.9 billion) during the first 11 months of 2023, compared to US$116 billion (AED428.6 billion) at the end of December 2022.

On a monthly basis, it grew 2.5 percent compared to US$127.9 billion (AED469.9 billion) in October 2023.

National banks accounted for 86.5 percent of the aggregate capital and reserves of UAE-based banks, logging a total of US$113 billion at the end of November 2023, a year-on-year (YoY) increase of 13.6 percent.

The share of foreign banks of the aggregate capital and reserves of UAE-based banks settled at 13.5 percent, reaching US$17 billion (AED65 billion) at the end of November 2023, a YoY growth of 11.9 percent.

At the end of November 2023, the aggregate capital and reserves of banks operating in the Emirate of Dubai reached US$63.2 billion (AED233.2 billion), logging a YoY growth of 14.9 percent, while banks operating in Abu Dhabi recorded US$57 billion (AED210 billion), a YoY increase of 10.6 percent.

The aggregate capital and reserves of banks operating in other emirates settled at AED38.3 billion, recording a 19.3 percent YoY growth.