UAE top banks’ profits, margin levels ‘take a hit’ in Q1
The profitability of the top ten UAE banks has deteriorated marginally by 0.3% in Q1 2022 and return on asset (RoA) remained flat at 1.4% during the quarter compared to Q1 2021 as the sector braces for a slowdown. The country’s 10 largest listed banks are First Abu Dhabi Bank (FAB), Emirates NBD (ENBD), […]
Abu Dhabi’s Response Plus Holding swings to Q1 net profit
Response Plus Holding, one of the UAE’s largest providers of healthcare services, on Wednesday said it pivoted to a net profit of 14.31 million dirhams ($3.9 million) in Q1 2022, from a loss of 1 million dirhams in the same period last year. Total revenues stood at 87.7 million dirhams compared with 0.4 million dirhams […]
Ithmaar Holding’s profits down 87% in Q1-22
The net profits attributable to the equity holders of Ithmaar Holding retreated by 87.2% to $1.13 million in the first quarter (Q1) of 2022, compared to $8.86 million in the same quarter of 2021, according to the company’s interim consolidated financials. The company’s operating income increased by 14.7% to $55.30 million in Q1-22 from $48.23 […]
Gulf Navigation Holding sees lower profits in Q1-22
The net profits attributable to the owners of Gulf Navigation Holding (GNH) plunged to AED 1.65 million in the first quarter (Q1) of 2022 from AED 80.13 million in the corresponding period in 2021, according to the company’s unaudited consolidated financials. The company’s operating revenues rose by 13% year-on-year (YoY) to AED 35.06 million in […]
Amlak Finance sees higher profits in Q1-22; accumulated losses hit 86% of capital
Amlak Finance has achieved net profits worth AED 13.08 million in the first quarter (Q1) of 2022, higher than AED 6.38 million in Q1-21. In the first three months (3M) of 2022, the income from Islamic financing and investing assets declined to AED 34.49 million from AED 40.84 million in the same period a […]
Emirates Investment Bank turns to losses in Q1-22
Emirates Investment Bank has logged net losses attributable to the equity holders of AED 43.63 million in the first quarter (Q1) of 2022, versus net profits of AED 7 million in the same quarter of 2021, according to the bank’s unaudited consolidated financials. The bank’s net income amounted to AED 11.04 million in […]
Emaar Development’s profits up 34% in Q1-22
Emaar Development has recorded net profits attributable to the owners worth AED 1.05 billion during the first quarter (Q1) of 2022, an annual leap of 34% from AED 780.89 million. During the January-March 2022 period, revenues dropped by 7% to AED 3.56 billion from AED 3.84 billion during the same period a year earlier, […]
Emaar Properties’ profits surge 241% in Q1-22
The unaudited interim consolidated financials of Emaar Properties reported a 241% surge in net profits attributable to the owners to AED 2.23 billion in the first quarter (Q1) of 2022, compared to AED 656.86 million in Q1-21. The company generated revenues of AED 6.63 billion in the first three months (3M) of 2022, […]
Salama’s profits exceed $2.58mln in Q1-22; dividends, accumulated losses announced
The Islamic Arab Insurance Company (Salama) has achieved net profits attributable to the shareholders worth AED 9.92 million during the first quarter (Q1) of 2022, compared to AED 22.22 million in Q1-21. The company’s net underwriting income reached AED 32.01 million in the January-March 2022 period, lower than AED 41.07 million in the year-ago […]
Vodafone says it looks forward to long-term relationship with UAE telecoms group e&
Vodafone said on Saturday that it looked forward to building a long-term relationship with Emirates Telecommunications Group Company PJSC, now known as e&, after it announced it had acquired a 9.8% stake in the mobile operator. “Vodafone Group Plc has been informed by Emirates Telecommunications Group Company (‘Etisalat’) of its shareholding in Vodafone and notes […]