Business

10 UAE national banks post Dh7.74 billion net profit in Q1

10 UAE national banks post Dh7.74 billion net profit in Q1

Eleven UAE national banks have reported around Dh7.74 billion Q1’21 net profit, a growth of 9.6 per cent over the same period last year.

According to data issued by the these banks, six ADX-listed banks booked around Dh4 billion in profits during the first three months of the year, compared to Dh2.967 billion over the same period in 2020.

FAB topped the list with around Dh2.475 billion in profit, an increase of 2.8 per cent from the same period last year. ADCB came second with Dh1.12 billion in net profit; followed by Sharjah Islamic Bank, Dh164 million; and then RAK Bank and NBQ, Dh43 million each.

In Dubai, Emirates NBD came first with net profits worth Dh2.32 billion during the same period; followed by Dubai Islamic Bank with Dh846 million; Commercial Bank of Dubai, Dh325 million; Emirates Islamic Bank, Dh211 million; and Mashreq Bank, Dh43 million. — Wam