10 UAE national banks post AED7.7 in Q1’21 net profit

Eleven UAE national banks have reported circa AED7.74 billion Q1’21 net profit, a growth of 9.6 percent over the same period last year.

According to data issued by the these banks, six ADX-listed banks booked around AED4 bn in profits during the first three months of the year, compared to AED2.967 bn over the same period in 2020.

FAB topped the list with around AED2.475 billion in profit, an increase of 2.8 percent from the same period last year. ADCB came second with AED1.12 bn in net profit; followed by Sharjah Islamic Bank, AED164 million; and then RAK Bank and NBQ, AED43 million each.

In Dubai, Emirates NBD came first with net profits worth AED2.32 billion during the same period; followed by Dubai Islamic Bank with AED846 million; Commercial Bank of Dubai, AED325 million; Emirates Islamic Bank, AED211 million; and Mashreq Bank, AED43 million.