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The assets (assets) of the five banks increased from 872.89 billion dirhams at the end of last year 2022, to 882.25 billion dirhams at the end of the first quarter of this year, an increase equivalent to 9.36 billion dirhams, or 1.1%.
Abu Dhabi Commercial
Abu Dhabi Commercial Bank acquired the largest share of total profits after it achieved a growth in net profits by 27% to 1.878 billion dirhams at the end of the first quarter of this year, compared to about 1.483 billion dirhams in the first quarter of 2022, while net interest income increased by 33%. to 2.85 billion dirhams.
Total assets amounted to 501 billion dirhams, an increase of 13% compared to the first quarter of 2022, and by 1% compared to the end of 2022, and net loans and advances increased by 7% compared to the first quarter of 2022, to reach 264 billion dirhams, or 2% compared to the end of 2022. Total customer deposits increased by 19% compared to the first quarter of 2022, to reach 311 billion dirhams, and increased by 1% compared to the end of 2022.
Dubai Islamic
Dubai Islamic Bank recorded a year-on-year growth in net profits by 12%, reaching 1.506 billion dirhams at the end of the first quarter of this year, compared to 1.345 billion dirhams in the first quarter of 2022, on the back of higher main revenues and wise management of costs; Total assets reached 291.98 billion dirhams at the end of the first quarter of this year, compared to 288.24 billion dirhams at the end of last year, an increase of 3.74 billion dirhams.
Total income increased to 4.43 billion dirhams compared to 3.016 billion dirhams, recording a strong growth of 47% year-on-year, while net operating income achieved a strong growth of 12% year-on-year to reach 2.755 billion dirhams, and net operating profit reached 2.013 billion dirhams. , recording a strong growth of 14% year-on-year, compared to 1.77 billion dirhams in the first quarter of 2022.
Sharjah Islamic
Sharjah Islamic Bank achieved an increase in net profit by 24.6% to 233.07 million dirhams in the first quarter of this year, compared to 187 million dirhams in the first quarter of 2022, while operating profits increased 31.9% to 327.7 million dirhams.
Total assets increased by 1.1 billion dirhams, or 1.9%, to reach 60.2 billion dirhams at the end of the first quarter of this year, compared to 59.1 billion dirhams at the end of last year, and total customer financing amounted to about 30.4 billion dirhams, while total customer deposits witnessed a significant increase during The first quarter, by 5.9%, to 41.9 billion dirhams.
Umm Al Quwain Bank
The net profit of “National Bank of Umm Al Quwain” increased to 139 million dirhams during the first quarter of this year, an increase of 44% compared to 96 million dirhams in the first quarter of 2022, as a result of the improvement of the external environment and efficient cost management.
The total assets of banks amounted to about 14.17 billion dirhams at the end of the first quarter of this year, an increase of 4% compared to about 13.6 billion dirhams at the end of last year. % by the end of the first quarter of this year.
United Arab
The net profit of United Arab Bank increased to 54.8 million dirhams in the first quarter of 2023 compared to 30.4 million dirhams in the same period of last year 2022, an increase of 80.2% as a result of the improvement in net interest income and the decline in impairment costs, in addition to the significant progress made. Achieved in the core business, which recorded an increase of 5% in total operating profits.
The bank’s assets increased from 14.08 billion dirhams at the end of last year to 14.426 billion dirhams at the end of the first quarter of this year, an increase equivalent to 345.8 million dirhams, while the bank continues to focus on developing its core business and revenues through transactions and banking services for companies, institutions, individuals and financial markets, while moving towards a model More flexible operational integration of digital solutions and capabilities.
