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43 billion dirhams profits of 24 listed companies in first half with 4.7% growth 26 July 2026 17:38 pm | Last update: 26 July 17:44 2026 2 minutes read Twenty-four companies and banks listed on the UAE financial markets achieved total net profits of about 43.12 billion dirhams during the first half of 2026, with an annual growth of approximately 4.7%, driven mainly by the strong performance of major banks, which captured the largest share of profits, while several companies recorded a significant decline in their financial results compared to the same period last year. Emirates NBD topped the list of the most profitable institutions, with profits of 12.9 billion dirhams, up 3%, followed by First Abu Dhabi Bank with profits of 10.73 billion dirhams, and then Abu Dhabi Commercial Bank, which recorded strong growth of 34%, raising its profits to 6.737 billion dirhams. The combined profits of the three banks amounted to about 30.4 billion dirhams, equivalent to about 70% of the total profits of the 24 institutions, confirming the continued leadership of major banks in the profitability of listed companies during the period. Dubai Islamic Bank came in fourth place with profits of 3.736 billion dirhams, while Commercial Bank of Dubai recorded profits of 1.716 billion dirhams, and National Bank of Ras Al Khaimah achieved profits of 1.71 billion dirhams, up 24.7%. Emirates Integrated Telecommunications Company (du) also achieved net profits of 1.63 billion dirhams, up 12.6%, while Bank AlSalam - Sudan recorded profits of 1.057 billion dirhams, a decline of 25.23% compared to the first half of 2025. Banking growth The results showed strong performance for a number of other banks, as profits of Sharjah Islamic Bank rose by 15.3% to 803.9 million dirhams, while profits of Bank of Sharjah jumped by 35% to 362 million dirhams. Ajman Bank also recorded a net profit after tax of 246 million dirhams, up 1%, while profits of Arab Union Bank reached 201 million dirhams, down 3.23%. In contrast, profits of Phoenix Group declined by 50% to 334.3 million dirhams, compared to 671 million dirhams in the first half of last year, and profits of National Bank of Umm Al Quwain fell by 13.5% to 271 million dirhams. Variation in companies As for companies, Taaleem Holdings achieved profits of 177.56 million dirhams, up 2.9%, and profits of Al Ittihad Real Estate increased by 26.16% to 18.37 million dirhams. Emirates Mobility recorded profits of 144.6 million dirhams, down 9%, and Abu Dhabi National Hotels' profits declined by 63.2% to 102.4 million dirhams, while ADNH Catering's profits fell by 18.9% to 60 million dirhams. In contrast, EasyLease recorded strong growth in net profits of 38.2% to 44.9 million dirhams, while Palms Sports' profits reached 43 million dirhams, down 4%, and Ras Al Khaimah National Insurance's profits rose by 19% to 28.6 million dirhams. Dubai Taxi recorded a decline in net profits, which reached 61.1 million dirhams during the first half of the year, compared to 189 million dirhams in the same period of 2025, and profits of Rabco Investment fell by 11.4% to 9.88 million dirhams. Dubai Financial Market

Phoenix Group, a crypto and cloud mining services company with a market cap of AED4.06 billion, recently announced a partnership with DC Max to develop an 18-megawatt AI data centre in Lyon, France. The company generated $24.3 million in revenue during Q1 2026. Despite solid liquidity management, with short-term assets significantly exceeding liabilities, Phoenix remains unprofitable. Losses have increased at 51.9% annually over the past five years, with a negative return on equity of -36.05%. Meanwhile, Hily Holding PJSC, which manages securities portfolios across Gulf countries with a market cap of AED241.20 million, shows satisfactory debt management with a net debt to equity ratio of 22.8%, though the pre-revenue company faces declining sales.