Dubai bank assets exceed 1.2 trillion, 8% growth

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(MENAFN – Al-Bayan) Source:

  • Abu Dhabi – Rami Samih

Date: July 27, 2020 The assets of the five listed Dubai banks grew to 1.256 trillion dirhams in the first half, an increase of 8%, compared to their assets of 1.162 trillion at the end of last year, according to the survey of the Economic Statement.

The survey showed that the Emirates NBD took the lead after its assets, including the assets of Emirates Islamic Bank, exceeded a barrier of 694.28 billion, a growth of 1.6%, while the assets of “Dubai Islamic” increased 27.2% to 294.8 billion, and the assets of “Mashreq Bank” reached 173.3 billion, up 8.7%, and the assets of Dubai Commercial grew 6.4% to 93.68 billion.

The operating income of banks increased by about 15.8% from 16.29 billion in the first half of 2019 to 18.87 billion in the first half of 2020, supported by an increase in operating income of “ Emirates NBD by about 32.6% from 9.53 billion to 12.63 billion as a result of loan growth and higher fee income, including It ” Denizbank.

The net profits of the banks reached 7.3 billion, down from the comparison period due to the large increase in allocations witnessed in the second quarter in light of the challenges resulting from the pandemic, “Corona.”

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