UAE’s top banks post strong Q2 net profit amid recovery from pandemic
- Date: 31-Jul-2021
- Source: Egypt Independent
- Sector:Financial Services
- Country:UAE
UAE’s top banks post strong Q2 net profit amid recovery from pandemic
DUBAI, July 28 (Reuters) – United Arab Emirates’ biggest lenders First Abu Dhabi Bank (FAB.AD) and Emirates NBD (ENBD.DU), posted double-digit percentage gains in quarterly net profit on Wednesday, as impairments fell amid a recovery from the pandemic while fee and commission income rose.
UAE banks are benefiting from an economic recovery from last year’s pandemic-led lockdowns which will see the Gulf’s second-largest economy grow 3.1% this year, the International Monetary Fund has said, versus a 5.9% contraction in 2020.
“The UAE economy has remained open thanks to the speed and success of the UAE’s vaccination programme,” Hesham Abdulla al- Qassim, vice chairman of Emirates NBD, said.
Select Sector 
Select Country 
