{"id":97207,"date":"2024-10-25T00:00:00","date_gmt":"2024-10-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/nmdc-energy-commercial-bank-international-and-sukoon-ins-report-3q-earnings\/"},"modified":"2024-10-25T00:00:00","modified_gmt":"2024-10-25T00:00:00","slug":"nmdc-energy-commercial-bank-international-and-sukoon-ins-report-3q-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/25\/nmdc-energy-commercial-bank-international-and-sukoon-ins-report-3q-earnings\/","title":{"rendered":"NMDC Energy, Commercial Bank International, and Sukoon Ins. report 3Q earnings"},"content":{"rendered":"

NMDC ENERGY-<\/p>\n

NMDC\u2019s engineering, procurement and construction unit <\/strong>NMDC Energy\u2019s net income rose by 144.9% y-o-y <\/strong>to AED 401.6 mn in 3Q 2024<\/strong> on the back of strong operational performance and expansion into new projects, according to its earnings release (pdf)<\/a>. Revenues increased 110.3% y-o-y to AED 4 bn in this quarter. In 9M 2024, the company\u2019s net income climbed 122.1% y-o-y to AED 904 mn, while revenues grew 96.4% y-o-y to AED 9.8 bn. <\/p>\n

REMEMBER-<\/strong> These are NMDC Energy\u2019s first set of financial results since its <\/span>Abu Dhabi Exchange (ADX) IPO last month<\/a>, which raised AED 3.22 bn and received over AED 88 bn in orders from investors.<\/span><\/p>\n

COMMERCIAL BANK INTERNATIONAL- <\/p>\n

Commercial Bank International (CBI) reported net income of AED 149.2 mn in Q3,<\/strong> an increase of 141.7% compared to 3Q 2023, according to the company's financials (pdf)<\/a>. The lender\u2019s net operating income rose 89.8% y-o-y to AED 278.5 mn. The bank\u2019s growth was supported by an expansion in loans and advances, as well as increased fee and commission income, according to its earnings release (pdf)<\/a>.<\/p>\n

On a nine-month basis, CBI's net income totaled AED 230.7 mn<\/strong>, an increase of 64% y-o-y. The bank also reported a 9M 2024 net operating income of AED 528.6 mn, reflecting a 26.9% y-o-y increase.<\/p>\n

SUKOON INS.- <\/p>\n

Dubai-based <\/strong>Sukoon Ins.\u2019 net income dipped 26% y-o-y to AED 46.7 mn in 3Q 2024<\/strong>, according to the company\u2019s financial statements (pdf)<\/a>. The company\u2019s ins. revenues rose nearly 15.7% to AED 1.4 bn during the quarter. Sukoon saw its bottom line fall 6.3% y-o-y in 9M 2024 to AED 173 mn, while its revenues climbed 16.4% y-o-y to AED 3.9 bn during the nine-month period.<\/p>\n","protected":false},"excerpt":{"rendered":"

NMDC Energy reports first earnings since its IPO<\/p>\n","protected":false},"author":1,"featured_media":97208,"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":[647,237,7,1366,1217],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-commercial-bank-international","tag-earnings-watch","tag-enterpriseam-uae","tag-nmdc-energy","tag-sukoon-ins","wpautop","entry"],"acf":{"mongo_id":"b9118b9e-d39b-4a99-8963-cc3953a2e962","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/210.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NMDC Energy, Commercial Bank International, and Sukoon Ins. report 3Q earnings","related_issue":[97193],"teaser":"NMDC Energy reports first earnings since its IPO","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.14d8e33a-a8ea-414e-8945-11de4c172eff.mp3"},"yoast_head":"\nNMDC Energy, Commercial Bank International, and Sukoon Ins. report 3Q earnings - 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