Abu Dhabi-based banks secure AED40.3 bn in net income in 2019

ABU DHABI, The net income of Abu Dhabi-based commercial and Islamic banks amounted to circa AED40.3 bn in 2019, reflecting continuing momentum at one of the domestic economy’s main enablers.

According to official data obtained by the Emirates News Agency, WAM, the combined financial returns of these banks hit about AED21.72 bn, which accounts for 53.9 pct of their total income last year.

The investment returns alone reached about AED7.93 bn, comprising 19.6 pct of the total income.

Q1 of 2019 saw a remarkable mobility where the income of the capital’s banks valued AED10.36 bn, before dropping to AED9.6 bn in Q2. The total income rebounded to AED10.24 bn in Q3, before standing at AED10.082 bn in Q4.

Source: Emirates News Agency