UAE: National Banks’ Assets Soar to $816 Billion in H1 2020

Published August 19th, 2020 - 11:00 GMT
UAE: National Banks’ Assets Soar to $816 Billion in H1 2020
The total assets of 11 ADX-listed national banks amounted to AED1.643 trillion against AED1.575 trillion. (Shutterstock)

Total assets of the 18 listed national banks in the UAE rose to around AED3 trillion ($816 billion) in H1-2020, up 8.2 percent, compared to the comparable period of 2019, reflecting the strong financial profile boasted by the Emirati banks...

The sector’s activity is highlighted by the profitability of the banks, as deposits increased around 13 percent to around AED1.942 trillion during the first half of the year, from around AED1.72 trillion in the same period last year, reported Emirates News Agency WAM, citing data released on banks’ s websites.

Loans also witnessed growth, climbing 8 percent from AED1.509 billion to AED1.629 billion during the reference period.

In more detail, the total assets of 11 ADX-listed national banks amounted to AED1.643 trillion against AED1.575 trillion. In DFM, seven listed banks saw their total assets increasing from AED1.069 trillion to AED1.347 trillion.

FAB is the best performer with asset worth AED866 billion, accounting for 28.8 percent of the total assets of all listed national lenders. Emirates NBD comes second with AED694.3 billion, or 23.1 percent, followed by ADCB, AED406 billion, Dubai Islamic Bank, AED295 billion, and Abu Dhabi Islamic Bank, AED124 billion.


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