Banks in the UAE have been among the biggest beneficiaries of the country’s recent boom, on the back of higher oil prices and a thriving local economy. Profits are on the increase and asset quality is sound, with lenders also enjoying strong capital and liquidity levels.
In the first half of 2023, the county’s four largest banks by total assets — First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank — registered combined net profits of $7.4bn, a 77% increase on the year ago period, according to Moody’s.
