The UAE’s largest listed banks reported higher earnings for the first nine months of 2026, with loan books growing faster than deposits at several lenders and the cost of funding emerging as a key factor for the final quarter, according to a Gulf News review of the October results disclosures published on 2 November.
What the October results showed
First Abu Dhabi Bank (FAB), Emirates NBD and Abu Dhabi Commercial Bank (ADCB), the three largest listed UAE lenders by market value, all reported higher nine-month earnings. Most of the figures released during October cover January to September 2026, with separate third-quarter numbers giving a more recent view. Comparison periods differ between banks: some figures are year-on-year, while others are measured from December 2025.
Key figures
- ADCB: net profit after tax rose 27% to AED 10.296 billion and operating income rose 10% to AED 18.306 billion. Net customer loans grew 18% year-on-year to AED 469 billion, customer deposits rose 16% to AED 558 billion and total assets reached AED 890 billion, Gulf News reported on 22 October.
- Abu Dhabi Islamic Bank (ADIB): net profit rose 6% to AED 5.6 billion and customer financing grew 25% year-on-year. Deposits rose 17% to AED 259 billion, with current and savings accounts making up 60% of the total. The non-performing asset ratio fell to 2%, and the bank has an AED 1.75 billion rights issue.
- FAB: nine-month net profit rose 3%. Its net interest margin improved by 5 basis points year-on-year to 1.93%, loans grew 10% since December against 5% deposit growth, and the non-performing loan ratio fell to 2.1% from 2.6% a year earlier.
- Emirates NBD: income rose 15%, and the bank’s third-quarter 2026 results announcement reported a record profit before tax of AED 24.3 billion. Excluding its acquisition of India’s RBL Bank, lending grew 18% against deposit growth of 12%.
- Other lenders: Mashreq’s customer loans rose 33%. RAKBANK reported annual loan growth of 23% against deposit growth of 21%. Commercial Bank of Dubai’s net loans rose 8.5% since December while deposits grew 0.7%.
Funding costs come into focus
Nagham Hassan, market analyst at eToro, told Gulf News that margins were lower at ADCB, Emirates NBD and Dubai Islamic Bank following rate cuts in late 2025, and that loans grew faster than deposits at ADCB, Emirates NBD, Commercial Bank of Dubai and Dubai Islamic Bank. She identified the price of funding as one of the biggest swing factors for fourth-quarter profits. Pressure on margins was not uniform across the sector, as FAB’s improved margin shows.
Why it matters for UAE businesses
Strong loan growth across the largest banks shows that credit is flowing to the economy, which supports the availability of facilities for corporates, SMEs and traders. Falling non-performing loan ratios at banks such as FAB and ADIB also point to healthier balance sheets.
The gap between lending and deposit growth is the part to watch. When banks compete harder for deposits, their own cost of funds can rise, and that can feed into how they price and select new facilities. Businesses that approach banks with clear financial statements, realistic cash-flow forecasts and complete trade documents are generally better placed to secure suitable terms in that environment.
How National Finance can help
National Finance is an advisory firm and does not lend. Our team helps UAE businesses prepare trade finance and working capital requests and connect with suitable banks. Learn more on our Trade Finance Advisory page.
Sources: Gulf News (2 November 2026 sector review; ADCB and ADIB nine-month results coverage), Emirates NBD Q3 2026 results announcement.
By the National Finance Media Team