Lenders in the UAE continue their ascent up the Top 1000 World Banks ranking this year, with sizeable increases to Tier 1 Capital, total assets, and pre-tax profits recorded by most institutions. A healthy economic backdrop, including broad-based non-oil activity, has fuelled the performance of the country’s banks in recent years.
Emirates NBD expanded its Tier 1 capital position by 12.3 per cent and maintains its leading position in the main country ranking. The bank also registered double-digit growth in assets of 16 per cent, while its pre-tax profits jumped by 57.9 per cent to $6.44bn. This outsized profit performance was underpinned by significant impaired loan recoveries, asset growth and expanding transaction volumes.
