The UAE’s banking sector to remain stable: KPMG

RIYADH: Following a 31 percent rise in net profits and a 10.6 percent increase in assets in 2022, the UAE’s banking sector is projected to remain stable, according to a KPMG report.

The global accounting firm said the sector’s net sentiment improved by 7 percent from the previous year, based on 96,321 tweets regarding seven UAE banks tracked.

The UAE banking sector recorded an industry average of -7.4 percent, a seven-percentage point increase from the 2022 study’s industry aggregate of -14.4 percent last year, the report added.