Search Site

Trends banner

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 banks make profit again as economy picks up speed

     

    • Top banks of UAE banks record more profit than last year

    • Income rose by 85 percent during the first quarter of this fiscal

     

    The net income of the top United Arab Emirates (UAE) banks has spiked by 85 percent in the first quarter of the year as economic conditions showed signs of improvement. A decline in operating expenses supported this growth, according to a report from consultancy Alvarez & Marsal.

    According to Zawya, the trend is expected to continue throughout the year, given the UAE’s strong fiscal and external positions. However it said that the real estate industry continues to put pressure on UAE banks despite signs of a demand recovery.

    “The sector is expected to rebound over the medium to long term, driven by measures such as offering citizenship and golden visas,” the report said. Loans and advances continued to contract in the first quarter, with a decline of 0.7 percent compared to the previous quarter. Deposits increased 1.2 percent.

    The report covered the UAE’s biggest lenders by assets, including Emirates NBD, Mashreq Bank, and the Abu Dhabi Commercial Bank. The Central Bank of the UAE last year launched the Targeted Economic Support Scheme (Tess), a 50 billion dirhams zero-cost liquidity facility for banks in the country. It was introduced to help buffer the blow of the COVID-19 pandemic to banks. It was extended until June 2022.