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Top ten Saudi banks log $5.2bn profit after tax in Q2: A&MAggregate profit after tax for ten largest Saudi banks increased by 4.3% QoQ to SR19.5 billion ($5.2 billion) in Q2’24 due to net interest income (NII) growth (+2.5% QoQ) and a substantial decline in impairment charges (-27.0% QoQ). More… |
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Top 10 UAE banks show ‘better asset quality, higher profits’The UAE’s top banks’ capital position remains robust, supported by high profits, and their asset quality further improved in the quarter ending June 2024. Profitability increased to AED21.5 bi More… |
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Corporate distress lets up in UAE, KSA but ‘performance lags’Corporate distress has ‘stabilised’ in Saudi Arabia and the UAE but the latest data indicates an increase in the number of underperforming companies. According to global professional services firm A More… |
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Positive trend in the UAE banking sector's profitability: A&MThe majority of banks in the UAE saw an increase in operating income (+3.2% QoQ) in the second quarter (Q2) on the back of moderate increase in non-interest income (+7.7% QoQ) and lower impairment charges. All More… |
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Profitability of Saudi Arabia’s biggest banks 'takes a hit' in Q1Profitability of the top 10 lenders in Saudi Arabia in Q1 continues to be affected by slower growth in operating income and higher impairment charges, said leading global professional services firm Alvarez & Marsal (A&M). More… |
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UAE banks’ Q1 profit surges 35%: Alvarez & MarsalUAE banks’ profitability grew by 35 percent in Q1 from the previous quarter due to enhanced cost efficiencies and lower impairment charges as well as a rise in non-core income, a report said. Incremental deposit growth outst More… |
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Top 10 UAE banks post $13.5bn income in 2022; up 32%The aggregate net income of the UAE’s 10 biggest banks increased by 31.7% year-on-year (YoY) for FY22 to AED49.8 billion ($13.5 billion) driven primarily by higher net interest income (NII) by 26.7% YoY, a report said. The r More… |
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Top 10 Saudi banks see 9.3% surge in Q3 net profitThe top 10 banks in Saudi Arabia witnessed robust growth in profitability as net profit increased 9.3 percent quarter-n-quarter (QoQ) resulting in a return on equity (RoE) of 14.8 percent in the third quarter (Q3) of 2022, a report said. More… |
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Top 10 Saudi banks post 15.5% surge in 2021 net incomeProfitability metrics of the top 10 banks in Saudi Arabia witnessed an improvement during 2021 with post Covid-19 economic recovery, with net income increasing by 15.5 percent YoY to SR48.8 billion ($12.8 billion), a report said. More… |
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UAE banking sector poised for growth: A&MThe profitability of the UAE’s banking sector recovered appreciably in 2021 and will grow further in 2022 on the back of anticipated economic recovery and the digital transformation of the banking industry, said a report. &n More… |
