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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Three UAE lenders among top five GCC banks

By Hilal Mir
June 21, 2023 7:08 pm
  • In 2022, the UAE's banking sector had assets of over $1.5 trillion, and Saudi Arabia's banking sector had assets of over $1 trillion.
  • The UAE and Saudi Arabia dominate the Gulf Cooperation Council banking sector as both have large and growing domestic markets.

Dubai, UAE — The United Arab Emirates (UAE) and Saudi Arabia dominate the Gulf Cooperation Council (GCC) banking sector as both have large and growing domestic markets, which provides a strong base for their banking sectors. Both countries attract a high level of foreign investment, which provides capital for their banking sectors. The UAE is the second-largest recipient of foreign direct investment (FDI) in the Middle East, and Saudi Arabia is the largest recipient of FDI in the Middle East. In 2022, the UAE’s banking sector had assets of over $1.5 trillion, and Saudi Arabia’s banking sector had assets of over $1 trillion. Here is a look at top 10 GCC banks by Market Cap and the top 10 Islamic banks in the region:

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