RIYADH: The five largest banks in the UAE reported a combined net profit of 38.1 billion dirhams ($10.37 billion) in the first half of 2026, representing a 7.8 percent year-on-year increase, according to an analysis.
These lenders, including First Abu Dhabi Bank, Emirates NBD, and Abu Dhabi Commercial Bank, as well as Dubai Islamic Bank and Mashreq, control about 79 percent of the UAE banking system’s assets, Moody’s said.
Their stronger bottom line was driven by solid operating revenue that more than offset higher costs and a sharp rise in provisions.
The findings come after Fitch Ratings said in March that financial institutions in the Gulf Cooperation Council region face limited short-term credit risk from the Iran war, supported by strong financial buffers and sovereign backing.
“Net profit growth was supported by sound operating revenue, reflecting solid net interest income, sustained fee and commission growth, and robust treasury and trading revenue. These factors more than offset higher operating expenses and increased provisioning charges,” said Moody’s in the latest report.
