UAE Listed Firms See 28.6% Profit Surge in Q2 on Banking and Real Estate Strength

UAE listed companies experienced a significant boost in profitability during the second quarter of 2026, with combined net profits reaching AED 79.2 billion (US$21.6 billion). This represents a substantial 28.6% increase compared to the AED 61.7 billion (US$16.8 billion) reported in the same period last year, according to the latest GCC Corporate Earnings Report by Kamco Invest.

Performance Across Emirates

Abu Dhabi-listed firms were the main driver of this growth, with their net profits soaring by 41.8% year-on-year to US$14.7 billion. In contrast, Dubai-listed companies saw a more moderate increase of 4.9%, reaching US$6.9 billion in net profits for the quarter.

For the first half of 2026, the combined net profits for UAE companies stood at US$38.9 billion, up 21.6% from US$32 billion in H1 2025. Abu Dhabi's aggregate profits rose by 29.8% to US$25.2 billion, while Dubai's increased by 8.5% to US$13.7 billion.

Sectoral Contributions

In Abu Dhabi, the banking sector posted aggregate earnings of US$3.5 billion in Q2, an increase of 12.1%. Key contributors included First Abu Dhabi Bank (US$1.6 billion net profit) and Abu Dhabi Commercial Bank (US$919.1 million net profit). The food, beverage, and tobacco sector also saw substantial growth, with profits jumping more than threefold to US$3.5 billion, largely due to non-operating gains from International Holding Company.

In Dubai, banking and real estate sectors collectively accounted for a significant 75.9% of total quarterly profits. The banking sector's net profits grew by 5.1% to US$3.3 billion, supported by strong performances from Mashreq Bank and Emirates NBD. The real estate sector recorded a robust 20.1% surge in profits to US$1.9 billion, led by Emaar Properties, which posted US$1 billion in quarterly net profit driven by US$7.2 billion in property sales.

Broader GCC Context

Across the GCC, total net profits for listed companies reached a new record of US$74.8 billion in Q2 2026, marking a 31.3% year-on-year increase. This regional surge was attributed to higher average crude oil prices, which rose 27% for the second consecutive quarter. Kuwait experienced the steepest percentage growth in the GCC, with net profits nearly doubling.