Dhs20.7 billion profits of 8 UAE banks in 9 months
- Date: 31-Oct-2020
- Source: Gulf Today
- Sector:Financial Markets
- Country:UAE
Dhs20.7 billion profits of 8 UAE banks in 9 months
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The impairment provisions for the eight banks increased by about 103 per cent during the first nine months of 2020 to Dhs16.6 billion, compared to Dhs8.2 billion for the same period in 2019.
As for the quarterly level, the increase in provisions in the third quarter of this year was 29 per cent less than the third quarter of 2019, and the value of the quarterly allocations to the eight banks reached Dhs4.4 billion in the third quarter of 2020, compared to Dhs3.42 billion in the third quarter of last year.
The eight banks are Emirates NBD, First Abu Dhabi Bank, Dubai Islamic Bank, Abu Dhabi Commercial Bank, Sharjah Islamic Bank, National Bank of Ras Al Khaimah, Dubai Commercial
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