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HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Dubai banks’ net profit now Dhs14.19 billion
By ABEER ABU SHAMMALEH February 06, 2017
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DUBAI: The net profits of Dubai banks dropped by around two per cent to Dhs14.19 billion last year, down from Dhs14.43 billion in 2015.

Dubai Islamic Bank made the highest growth rate of an average of 5.5 per cent with its net profits reaching around Dhs4.05 billion in 2016 compared with Dhs3.84 billion in 2015.

Emirates NBD Bank topped Dubai’s banks in terms of profitability as its net profits grew by around 2 per cent to Dhs7.24 billion last year.

MashreqBank’s profits dropped by about 20 per cent to Dhs1.9 billion last year, while the profits of the Commercial Bank of Dubai reached Dhs1 billion, down by 6.5 per cent compared to its profits in 2015.

The total value of Dubai banks’ assets grew by around 15 per cent to Dhs809.87 billion last year, up from Dhs706.72 billion in 2015. Dubai Islamic Bank topped the list of Dubai banks in terms of the growth of assets with an average growth rate of 38 per cent. The total value of the bank’s assets reached Dhs174.97 billion.

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