The combined net earnings of the 19 national lenders of UAE declined to AED15.687 billion, reporting a fall of 16.3 percent during the first nine months of the ongoing financial year. Recently, provided financial data of these banks to UAE bourses maintained that earning stood at AED18.743billion during the corresponding period last year.

Their earnings during third quarter, according to Emirates Business, too declined 11.6 per cent at AED4.831billion as compared to AED5.47 billion in the same period last year. Profit of Emirates NBD declined to AED3.164billion in September as compared to AED3.666billion in the same period last year.

Profit of Invest bank and the National Bank of Umm Al Quwain surged 38 and 37 percent while Emirates Islamic Bank and Dubai Islamic Bank remained biggest losers with a fall of 68 and 35 percent in their respective profit. However, combined assets of banks surged to AED1.244bn against AED1.159billion in 2008.