The combined net profits of 18 national banks listed on the country’s financial markets rose to Dh24.5 billion ($6.6 billion) in the first half of 2019, compared to Dh21 billion in the same period of 2018, an increase of 16.6 per cent.

The total profits of the seven banks listed on the Dubai Financial Market (DFM) increased to Dh12.9 billion in the first half of this year, compared to Dh9.74 billion in the same period of 2018, an increase of 32.4 per cent, reported Emirates news agency Wam.

The 11 banks listed in the Abu Dhabi Securities Exchange (ADX) recorded net profits amounting to Dh11.6 billion in the first part of 2019, compared to Dh11.2 billion in the first half of 2018, a growth of 3.5 per cent.

Emirates NBD was ranked first in terms of profits, reaching Dh7.5 billion at the end of June, compared to Dh5 billion in the same period last year.

In terms of the banks listed on the ADX, First Abu Dhabi Bank ranked first, with profits amounting to Dh6.33 billion in the first half of this year, compared to Dh6.057 billion in the same period of 2018.