New independent survey data from YouGov and Daleel highlights growing financial inclusion, but also reveals gaps in consumer confidence and engagement
UAE banking sector
Latest in UAE banking sector
Abu Dhabi
First Abu Dhabi Bank powers ahead with record Q1 numbers
Total income up 11 per cent to $2.4bn as net profit rises 23% to $1.4bn and profit before tax reaches $1.67bn; Total assets cross AED1.3tn mark
Emirates NBD
Emirates NBD’s balance sheet crosses AED1 trillion after strong Q1 numbers
Profit before tax rises 56% to $2.12 billion on strong loan growth and improving deposit mix; Deposits grew by 5%; Income up 11%
CBUAE
UAE bank investments rise to $202bn in January 2025
This represents a 16.1 percent growth compared to January 2024, according to the Central Bank of the UAE’s latest banking indicators
Russia-Ukraine conflict
Russia-Ukraine ceasefire would have limited impact on UAE banks, S&P says
UAE banks to maintain strong asset quality with central bank rule changes boosting loan coverage ratios, already near 100%
Dubai
Dubai Islamic Bank total income grows 15.9% to $6.36bn in 2024
Pre-tax profit up 27% to $2.45 billion; Customer deposits up almost 12% to $67.8 billion; NPF ratio improves 140bps to $2.48 billion
financial institutions
United Arab Bank reports 30% jump in pre-tax profit for FY2024
Total assets for the Sharjah-based bank climb 22% to $5.85 billion driven by a 23% growth in loans, advances, and Islamic financing
Mashreq Bank
Mashreq delivers $2.45bn net profit in 2024
The bank reported a 24% jump in its revenue in 2024 to AED 13.4 billion
financial institutions
RAKBANK posts record over AED 2bn profits in 2024
For Q4’24, the profit after tax was AED 386M, and the profit before tax was AED 424M, representing declines of 10.4% and 4.6%, respectively
CBUAE
CBUAE reports $1.21 trillion in bank assets by end of October
Banks’ deposits increased by 1.5%, from AED 2,761.4 billion at the end of September to AED 2,802.5 billion at the end of October 2024
digital banking
UAE leads the way for digital innovation in Middle East’s $3.2bn banking sector
The UAE’s willingness to adopt innovative banking practices such as blockchain adoption and AI put it at the forefront of Middle East banking
Abu Dhabi
First Abu Dhabi Bank reports net profit of $1.23bn for Q3, up 5% year-on-year
The bank’s net profit was based on a revenue of AED23.9bn ($6.51bn)
Arab Monetary Fund
Family credit in UAE banks hits $115bn: AMF
Family credit in the UAE banking sector climbs to $115bn, according to the Arab Monetary Fund
National Bank of Fujairah
National Bank of Fujairah issues $275mn additional Tier 1 capital securities
The new issuance has been privately placed with the Government of Fujairah
CBUAE
UAE banking sector’s liquid assets surpass AED 800bn in Q2 2024
This is a 20.2 percent rise from the same year-ago period
CBUAE
UAE banking sector reports 10.6% growth in capital, reserves, investments
Total capital and reserves of banks operating in the UAE reached AED495.2 billion at the end of June 2024, new data by CBUAE said
Abu Dhabi
Strong performance across business powers FAB’s H1 net profit to $2.29bn
Revenue for first six months at $4.28 billion, including 30% growth in international revenue; Sustainable finance reaches 41% of bank’s 2030 target