The market value of the top 5 banks in Dubai is 238.3 billion.

The combined market value of the top 5 banks listed on the Dubai Financial Market reached around 238.33 billion dirhams at the beginning of this year. It is expected to further increase in line with the market’s plans to double its market value in the coming years.

According to “Al-Bayan”, 5 listed banks have acquired approximately 34.2% or the equivalent of 238.335 billion dirhams out of the total market value of the Dubai Financial Market, which amounts to 697.24 billion dirhams at the end of last week’s trading.

The Emirates NBD Bank has the highest market value, reaching over 110.8 billion Dirhams, which is equivalent to 15.9% of the Dubai market capitalization. Then comes “Dubai Islamic” with a market value of 41.85 billion Dirhams, representing 6% of the market share. The “Emirates Islamic” follows with approximately 40.2 billion Dirhams, representing 5.8% of the total market capitalization.

The market value of Mashreq Bank reached approximately AED 30.5 billion, equivalent to a stake of about 4.4%, followed by Dubai Commercial Bank with a market value of AED 14.9 billion and a stake of 2.15%.

The market value of the Dubai Financial Market significantly increased last year, primarily supported by the strength and resilience of the national economy. This was further enhanced by strong gains in listed stocks and increased demand from international investors, as well as new listings, including “Al Ansari Financial Services” and “Dubai Taxi”.

The Dubai Financial Market has successfully achieved the best performance among Gulf stock exchanges in 2023, with the market index rising by 21.69% over the past year. This resulted in the index jumping from 3336.07 points at the end of 2022 to 4059.8 points in the last session of 2023, earning a market capitalization of approximately 105.6 billion dirhams.

The market capitalization of Dubai-listed stocks increased from 581.97 billion dirhams at the end of trading in 2022 to 687.5 billion dirhams in the latest sessions of 2023.