Browsing: financial performance

ADNOC Gas plc and its subsidiaries have announced a record net income of USD 5 billion for the full year (FY) 2024, alongside the highest quarterly income of USD 1.38 billion since its IPO.

Union Properties PJSC (“Union Properties” or the “Company”) (DFM symbol: UPP) achieves a significant milestone in its recovery plan as it reduced its legacy debt of AED 1.47 billion (FY2022) to AED 575 million as of end of December 2024, and further targets reducing it by end of Q1 2025 by another AED 150 million.

First Abu Dhabi Bank (FAB), the UAE’s largest lender, reported a 4% year-on-year (YoY) rise in net profit for 2024, reaching AED 17.1B (USD 4.6B).

United Arab Bank P.J.S.C (UAB) reported a net profit (before tax) of AED 331 million for 2024, up from AED 255 million in 2023, marking a 30% increase. This growth is attributed to improved operational performance and strong recoveries, resulting in reduced net impairment charges.

Abu Dhabi-listed Borouge has reported a strong financial performance for the fourth quarter of 2024,…

Mashreq Bank reported a net profit of AED 9B in 2024, marking a 4% increase from 2023 after accounting for AED 869M in tax payments.

Emirates Islamic announced a record profit before tax of AED 3.1B marking a 46% increase compared to the previous year.

Sharjah Islamic Bank (SIB) reported exceptional financial performance for the year ending 31st December 2024, achieving significant growth. The bank’s net profit before tax rose by 36.5% to AED 1.15B, with net profit after tax increasing by 24.5% to AED 1.05B. This marks the first time SIB’s net profit has exceeded AED 1B, reflecting its ability to expand and diversify operations in both local and international markets.

Mair Group, a UAE-based strategic investment firm, is set to list directly on the Abu Dhabi Securities Exchange (ADX) on December 9, marking a significant milestone in its growth. Originally founded in the cooperative movement, Mair has diversified its business, focusing on food retail, commercial real estate, and contributing to the UAE’s food security

RAKEZ, a UAE free zone, has partnered with Mbank to offer customers rapid access to business accounts, loans, overdrafts, and services.