Top UAE banks rebound in Q2

clock • 1 min read
Top UAE banks rebound in Q2

The top 10 UAE banks have reported a significant rebound in quarterly profits for Q2, according to the latest Banking Pulse report from global professional services firm Alvarez & Marsal (A&M) - which suggests lenders benefitted from an increase in profitability driven by core interest income. Total interest income of the banks grew drastically by 19.5% quarter-on-quarter. These major banks reported an increase in aggregate net income of 24.4% to AED12.6bn (about $3.4bn). A&M said that...

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