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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

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

UAE banks’ investments reach $157 billion by July end

Bank investments do not include the bank's deposit with the Central Bank in the form of certificates of deposit and cash bills.
  • The data showed that investments of banks operating in the country increased by 18.8 percent on an annual basis, from AED 487.7 billion in July 2022.
  • On a monthly basis, investments of banks increased by 0.91 percent, from AED 574.3 billion in June 2023.

Abu Dhabi, UAE — Investments of banks operating in the UAE reached AED 580 billion ($157.90 billion) at the end of July 2023, the highest level in history, according to the latest statistics of the UAE Central Bank.

The data showed that investments of banks operating in the country increased by 18.8 percent on an annual basis, from AED 487.7 billion in July 2022. On a monthly basis, investments of banks increased by 0.91 percent, from AED 574.3 billion in June 2023.

Bonds held until maturity accounted for the largest share of banks’ investments, reaching AED 266.8 billion at the end of July 2023, an increase of 1.3 percent from the previous month, when it was AED 263.3 billion.

Debt securities, which represent debts owed to others, made up about 43 percent of the total investments, reaching AED 249.9 billion at the end of July 2023, an increase of 0.6 percent from AED 248.5 billion in June 2023.

Bank investments in stocks reached AED 12.5 billion at the end of July 2023, an increase of 3.3 percent from the previous month, when it was AED 12.1 billion. During the first seven months of 2023, bank investments in stocks increased by 5.9 percent, from AED 11.8 billion in December 2022.

According to Central Bank statistics, other investments by banks amounted to AED 50.3 billion at the end of July 2023, an increase of 12.5 percent from AED 44.7 billion in July 2022.

The bank investments do not include the bank’s deposit with the Central Bank in the form of certificates of deposit and cash bills.