The Banking Executive Magazine - November 2022 Issue

UAE Top 100 Banks the BANKING EXECUTIVE 48 ISSUE 167 NOVEMBER 2022 UAE’S TOP 10 BANKS’ PROFITABILITY SOARS TO 15.1% IN Q3 The top 10 UAE banks have reported higher profitability as return on eq- uity (RoE) improved by 1.3 percent quarter-on-quarter (QoQ) to 15.1 percent in the third quarter (Q3), a report said. Meanwhile, return on assets (RoA) improved by 0.1 percent QoQ to 1.7 percent during the quarter, thanks to stronger economic activity, higher in- terest rates, and elevated oil prices, according to the latest UAE Banking Pulse for Q3 released by leading global professional services firm Al- varez & Marsal (A&M). The increase in profitability was driven by higher core interest in-