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A decline in operating expenses supported this growth, according to a report from consultancy Alvarez & Marsal
Updated 08 June 2021
June 08, 2021 17:55
DUBAI: The aggregate net income of the UAE’s top ten banks increased by 85 percent in the first quarter of the year, compared to the previous one, as economic conditions gradually improved
A decline in operating expenses supported this growth, according to a report from consultancy Alvarez & Marsal.
It expects the trend to continue throughout the year, given the UAE’s strong fiscal and external positions.
However it said that the real estate industry continues to put pressure on UAE banks despite signs of a demand recovery.