Total assets of 10 UAE banks jump to 1.3 trillion dirhams during the first quarter of 2019

28-04-2019 Media in\ Abu Dhabi
The total assets of the 10 national banks, which disclosed their financial statements, increased to AED 1.3 trillion in the first quarter of 2019, an increase of 40 billion dirhams and a growth of 3.1% compared to 1.26 trillion dirhams in the same period of 2018.

The financial statements of the banks analyzed reflected the continuation of all their indicators to achieve growth that surpassed the expectations of financial analysts both at the local level and those working in specialized international expertise.

The bank’s strong growth was accompanied by an increase in its net profit to AED 6.76 billion in the first quarter of this year, a 12% increase compared to the first quarter of 2018.

The national banking sector, which has about 17 banks, is one of the most active sectors compared to other sectors. Its performance also reflects the extent of activity in the national economy in general.
The financial statements of the banks covered by the analysis of their success in attracting more customers, which seemed clear through high customer deposits with the 10 banks covered by the analysis to the level of 1.1 trillion dirhams at the end of the first quarter of this year, a growth rate of 5.7%, compared with 1.04 billion dirhams in the first quarter of 2018.

At the level of loans, the value of financial facilities provided by these banks amounted to AED 984 billion during the first quarter of this year, a growth of 6.6% compared to AED 922.8 billion in the first quarter of 2018