Sunday 04 December 2022 - 2:23:39 am

Assets of national companies listed in financial markets rise by 10% in H1 2022


ABU DHABI, 24th August, 2022 (WAM) -- The assets of national companies listed in local financial markets rose by 10 percent in the first half of 2022, equivalent to AED425.7 billion, an indicator of their robust financial performance and ability to expand their operational activities, develop new products and conduct acquisitions.

According to the disclosures of 118 listed companies that announced their financial results on the websites of financial markets, their assets increased to AED4.735 trillion at the end of June, compared to some AED4.309 trillion at the end of December 2021.

A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total assets, valued at AED2.832 trillion at the end of June 2022, a rise of 10 percent compared to AED2.575 trillion at end of December 2021.

A total of 44 listed companies in the Dubai Financial Market accounted for 40.2 percent of total companies' assets, valued at AED1.903 trillion at the end of June, a rise of 9.7 percent compared to AED1.735 trillion at the end of December 2021.

The banking sector was the leading contributor, with 17 banks accounting for 69 percent of total assets, valued at AED3.273 trillion at the end of June 2022, compared to AED3.139 trillion at the end of December 2021.

First Abu Dhabi Bank (FAB) was the leading listed company in terms of assets, valued at AED1.042 trillion.

WAM/Tariq alfaham/Khoder Nashar