The net profits of 14 UAE banks listed on the Abu Dhabi and Dubai markets increased to AED 50.5 billion (about $ 13.75 billion) during the last year 2022, reflecting their strong solvency, strong revenues and high liquidity, benefiting from the recovery of the UAE economy after full recovery from the repercussions of the Covid-19 pandemic".
According to the disclosures of listed banks announced on the websites of the financial markets, the net profits of banks during the period from January to December 2022 increased by 32 percent, or the equivalent of AED 12.22 billion, compared to a net profit of AED 38.25 billion during the year 2021.
The profits of 8 banks listed on the Abu Dhabi Securities Exchange last year reached AED 26.2 billion, an increase of 19.4 percent, compared to profits of AED 22 billion in 2021, while the profits of 6 banks listed on the Dubai Financial Market amounted to about AED 24.34 billion in 2022, an increase of 48.8 percent compared to AED 16.35 billion in 2021.
Source (Sky News Arabia Website, Edited)
