Special Report - (Namazone):

The banks listed in the UAE capital markets recorded positive results during 2019, led by the major banks, which accounted for the largest part of the sector's total profits.

A statistic prepared by (Namazon) revealed that the net profits of 18 banks listed in the Dubai and Abu Dhabi markets increased by 12% in 2019 compared to 2018.

The consolidated profits of the listed Emirati banks rose to about 46.5 billion dirhams last year, compared to 41.55 billion dirhams for the previous year.

Dubai banks outperformed the net profits, after the total profits of the banks listed in Dubai increased to about 24.14 billion dirhams, compared to 19.3 billion dirhams in the previous year, with a growth of 25%.

The profits of the banks listed in the Abu Dhabi market rose last year to 22.85 billion dirhams, compared to 22.16 billion dirhams in 2018, a marginal increase of 3%.

<12 style = "direction: rtl; text-align: right;"> 12 banks recorded net profit growth in 2019, compared to the previous year, and 5 banks reported a decline in net profits, and UAB incurred net losses.

The Bank of Sharjah registered the highest growth in net profits during 2019, after net profit rose 51.7% to AED 193.4 million, compared to 127.5 million dirhams for the year 2018 .

The highest decline in profits was for Emirates Investment Bank (the owner of the lowest profits at the sector level), which announced a net profit of 8.9 million dirhams compared to 37 million dirhams in 2018, Down by 76%.

Dubai National at the forefront

Emirates NBD came in first with highest profits, with a net profit of 14.5 billion dirhams, representing about 31% of the total profits of Emirati banks during 2019. p> The third place for Dubai Islamic Bank, which announced a net profit of about 5 billion dirhams, for the three banks to seize about 69% of the total profits, or more than two-thirds Earnings.

Standard & Poor's credit rating agency confirmed earlier the solidity of the financial performance of the UAE banking sector, which maintains the stability of the credit situation of banks.

The agency indicated that its expectations depend on the absence of any unexpected escalation due to the risks of geopolitical tensions or a decline ...