Monday, April 15, 2024

Profits of 41 companies listed in the UAE increased by 57% in the first half

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ABU DHABI – Mubasher: The net profit of 41 companies listed on the UAE Capital Market rose to around Dh50.6 billion in the first half of this year.

According to a report prepared by the Emirates News Agency, the net profit of companies increased by 57.1% or the equivalent of 18.4 billion dirhams for the period from January to June 2022. , WAM.

The profit of 29 companies listed on the Abu Dhabi Stock Exchange in the first half of this year was 38.7 billion dirhams, an increase of 65.2% or 15.3 billion dirhams from 23.4 billion dirhams in the same period last year..

The profit of 12 companies listed on the Dubai Financial Market in the first half of 2022 was about 11.89 billion dirhams, an increase of 35.5% or 3.11 billion dirhams, compared to 8.78 billion dirhams in the corresponding period of 2021.
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In the first half of this year, the 14 listed banks made a net profit of around 24.27 billion dirhams, a growth of 40.6% or a 48% higher share of the total profit equivalent to 7 billion. dirhams, compared to 17.26 billion dirhams in the first half of last year.

“First Abu Dhabi Bank” won the largest share of total profits after posting a net profit of around 8 billion dirhams in the first half of this year, an increase of 50% compared to the same period in 2021.

Alpha Abu Dhabi Holding Company ranked second in terms of gross profit after reaching 7.9 billion dirhams in the first half of the year, a growth of 357.6 percent compared to 1.7 billion dirhams last year..

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Emirates NBD ranked third with a net profit of AED 5.3 billion in the first half of the year, marking its first half-year profit in 2019.

Etisalat Group posted a net profit of around 4.9 billion dirhams in the first half of this year, a growth of 2.5% compared to the same period last year.

Borouge’s profit rose 1.7% to $1.512 billion in the first half of the year, while net income rose 2.5 percent to $853 million.

The profit of “Abu Dhabi Commercial Bank” rose to 3.059 billion dirhams in the first half of this year, a growth of 21% compared to the first half of 2021, while net interest income increased by 6% to reach 4.718 billion dirhams. Net non-interest income rose 4% to 1.713 billion dirhams.
Dubai Islamic Bank recorded a strong 45% year-on-year growth in net profit to reach AED 2.7 billion, compared to AED 1.86 billion in the same period last year.

Aldar Properties’ profits rose to 1.53 billion dirhams in the first half of the year, a 44% year-on-year increase.

Mashreq Bank’s profit in the first half of the year rose to Dh1.4 billion, while operating profit was around Dh1.9 billion, a 17% increase as a result of an increase in operating income.

Abu Dhabi Islamic Bank’s net profit rose 30% to Dh1.4 billion in the first half of the year.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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