{"id":96959,"date":"2024-10-18T00:00:00","date_gmt":"2024-10-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/a-pile-of-bank-earnings-for-you-as-3q-earnings-season-continues\/"},"modified":"2024-10-18T00:00:00","modified_gmt":"2024-10-18T00:00:00","slug":"a-pile-of-bank-earnings-for-you-as-3q-earnings-season-continues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/18\/a-pile-of-bank-earnings-for-you-as-3q-earnings-season-continues\/","title":{"rendered":"A pile of bank earnings for you as 3Q earnings season continues"},"content":{"rendered":"

Dubai's Emirates NBD delivered \u201crecord profit\u201d of AED 19.0 bn in 9M 2024<\/strong> on total revenues of AED 32.9 bn, it said in an earnings release (pdf)<\/a> and its financial statements (pdf)<\/a>.<\/p>\n

Diving deeper: <\/strong>Loan growth was up 9% in the first nine months of the year \u201cacross all business units and international locations,\u201d it said. Profitability was supported by \u201can excellent stable, low-cost funding mix\u201d as current and savings account liabilities swelled AED 33 bn. Higher fee and commission income in 3Q also boosted profitability. <\/p>\n

Regional growth: <\/strong>Management noted that its Emirates Islamic franchise is delivering its strongest year ever, turning in AED 2.5 bn in profit and growing its Saudi loan book 49% year-to-date since expanding into the Kingdom. <\/p>\n

Dive deeper: <\/strong>You can check out Emirates Islamic\u2019s results here in its financials (pdf)<\/a> and earnings release (pdf)<\/a> <\/p>\n

\n

BANK OF SHARJAH-<\/p>\n

The Bank of Sharjah\u2019s net income rose 495.2% y-o-y to AED 125 mn in 3Q 2024<\/strong>, up from AED 21 mn during the same period last year, according to the lender\u2019s earnings release (pdf)<\/a>. The lender\u2019s total operating income in the quarter rose 88% y-o-y to AED 188 mn.<\/p>\n

On a YTD basis: <\/strong>9M 2024 net income came in at AED 296 mn compared to a loss of AED 122 mn in the same period last year as total operating income rose 50.6% y-o-y to AED 488 mn.<\/p>\n

\n

SHARJAH ISLAMIC BANK-<\/p>\n

Sharjah Islamic Bank (SIB)\u2019s net income after tax rose 23.3% y-o-y to AED 336.4 mn in 3Q <\/strong>2024<\/strong>, according to its financial statements (pdf)<\/a>. Total operating income was up 30.5% y-o-y to AED 585.2 mn as fee and commission, Islamic finance, investment income, and FX income all advanced.<\/p>\n

SIB\u2019s net income rose to AED <\/strong>902.5 <\/strong>mn in 9M 2024<\/strong>, up 17.6% y-o-y on a more than 14% increase in revenue to AED 1.61 bn. <\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai's Emirates NBD delivered \u201crecord profit\u201d of AED 19.0 bn in 9M 2024 on total revenues of AED 32.9 bn, it said in an earnings release (pdf) and its financial statements (pdf). Diving deeper: Loan growth was up 9% in the first nine months of the year \u201cacross all business units and international locations,\u201d it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,1006,260,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96959","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-emirates-islamic-bank","tag-emirates-nbd","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"0c859012-61f3-48b0-b797-820780e3dc22","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/899.jpgbr!_StoryDek_!%20Shares%20of%20Emirates%20NBD%20have%20risen%2017.3%%20so%20far%20this%20year,%20surpassing%20its%20peers%20in%20the%20Gulf","photo_position":"above","homepage_title":"","full_issue_title":"A pile of bank earnings for you as 3Q earnings season continues","related_issue":[96947],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.9f27a47a-de4f-4dbd-be87-c849c1d37aba.mp3"},"yoast_head":"\nA pile of bank earnings for you as 3Q earnings season continues - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/10\/18\/a-pile-of-bank-earnings-for-you-as-3q-earnings-season-continues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A pile of bank earnings for you as 3Q earnings season continues\" \/>\n<meta property=\"og:description\" content=\"Dubai's Emirates NBD delivered \u201crecord profit\u201d of AED 19.0 bn in 9M 2024 on total revenues of AED 32.9 bn, it said in an earnings release (pdf) and its financial statements (pdf). 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