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Emirati (ADX) Banks Industry Analysis

UpdatedSep 26, 2025
DataAggregated Company Financials
Companies16
  • 7D-4.4%
  • 3M2.4%
  • 1Y26.2%
  • YTD23.9%

Over the last 7 days, the Banks industry has dropped 4.4%, driven by declines in First Abu Dhabi Bank P.J.S.C and Emirates NBD Bank PJSC of 6.6% and 7.3%, respectively. On the other hand National Bank of Fujairah PJSC is actually up 11%. This takes the industry's 12 month performance to a gain of 26%. Earnings are forecast to grow by 4.7% annually.

Industry Valuation and Performance

Has the Emirati Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Sep 2025د.إ705.3bد.إ147.5bد.إ80.6b8.7x8.8x4.8x
Sun, 24 Aug 2025د.إ811.7bد.إ152.7bد.إ83.6b9.5x9.7x5.3x
Tue, 22 Jul 2025د.إ818.2bد.إ149.6bد.إ82.8b9.4x9.9x5.5x
Thu, 19 Jun 2025د.إ695.2bد.إ149.0bد.إ82.3b8.4x8.4x4.7x
Sat, 17 May 2025د.إ836.0bد.إ149.0bد.إ82.1b8.2x10.2x5.6x
Mon, 14 Apr 2025د.إ755.8bد.إ145.0bد.إ80.5b7.8x9.4x5.2x
Wed, 12 Mar 2025د.إ666.0bد.إ145.1bد.إ80.7b8.5x8.3x4.6x
Fri, 07 Feb 2025د.إ666.1bد.إ143.5bد.إ79.7b9.3x8.4x4.6x
Sun, 05 Jan 2025د.إ607.3bد.إ140.3bد.إ79.3b8.3x7.7x4.3x
Tue, 03 Dec 2024د.إ548.1bد.إ135.5bد.إ76.3b7.8x7.2x4x
Thu, 31 Oct 2024د.إ568.3bد.إ139.3bد.إ78.7b7.7x7.2x4.1x
Sat, 28 Sep 2024د.إ579.8bد.إ136.5bد.إ77.4b8.4x7.5x4.2x
Mon, 26 Aug 2024د.إ559.7bد.إ136.5bد.إ77.4b7.9x7.2x4.1x
Wed, 24 Jul 2024د.إ535.7bد.إ133.9bد.إ76.5b7.5x7x4x
Fri, 21 Jun 2024د.إ514.1bد.إ131.1bد.إ75.0b7.3x6.9x3.9x
Sun, 19 May 2024د.إ521.6bد.إ131.1bد.إ75.0b7.5x7x4x
Tue, 16 Apr 2024د.إ534.1bد.إ125.1bد.إ72.3b7.9x7.4x4.3x
Thu, 14 Mar 2024د.إ541.9bد.إ125.1bد.إ72.6b8.2x7.5x4.3x
Sat, 10 Feb 2024د.إ549.7bد.إ125.5bد.إ73.0b8x7.5x4.4x
Mon, 08 Jan 2024د.إ537.2bد.إ119.3bد.إ67.4b8.4x8x4.5x
Wed, 06 Dec 2023د.إ519.3bد.إ119.3bد.إ67.4b8.2x7.7x4.4x
Fri, 03 Nov 2023د.إ510.4bد.إ119.5bد.إ67.7b8.2x7.5x4.3x
Sun, 01 Oct 2023د.إ530.6bد.إ110.8bد.إ62.3b8.5x8.5x4.8x
Tue, 29 Aug 2023د.إ534.3bد.إ110.8bد.إ62.3b8.6x8.6x4.8x
Thu, 27 Jul 2023د.إ536.4bد.إ104.9bد.إ56.5b8.8x9.5x5.1x
Sat, 24 Jun 2023د.إ503.6bد.إ102.4bد.إ54.2b9.2x9.3x4.9x
Mon, 22 May 2023د.إ492.6bد.إ102.0bد.إ54.0b9.2x9.1x4.8x
Wed, 19 Apr 2023د.إ486.6bد.إ95.1bد.إ50.0b9.4x9.7x5.1x
Fri, 17 Mar 2023د.إ466.4bد.إ94.4bد.إ50.9b9.4x9.2x4.9x
Sun, 12 Feb 2023د.إ498.1bد.إ94.4bد.إ50.8b9.7x9.8x5.3x
Tue, 10 Jan 2023د.إ505.2bد.إ88.5bد.إ48.1b9.7x10.5x5.7x
Thu, 08 Dec 2022د.إ515.9bد.إ88.5bد.إ48.1b9.7x10.7x5.8x
Sat, 05 Nov 2022د.إ533.9bد.إ88.7bد.إ47.3b9.6x11.3x6x
Mon, 03 Oct 2022د.إ530.4bد.إ84.1bد.إ44.3b11.1x12x6.3x
Price to Earnings Ratio

12x


Total Market Cap: د.إ530.4bTotal Earnings: د.إ44.3bTotal Revenue: د.إ84.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Emirati Banks Industry Price to Earnings3Y Average 8.6x202320242025
Current Industry PE
  • Investors are relatively neutral on the Emirian Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 8.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.8x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 21% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Emirati Financials industry?

AE Market-1.72%
Financials-4.18%
Banks-4.41%
Diversified Banks-4.41%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry, which is trading close to its 3-year average PE ratio of 8.6x.
    • Analysts are expecting annual earnings growth of 4.7%, which is lower than the prior year's growth of 14.4% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 8.6x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 4.7% over the next 5 years.
  • However this is lower than its past earnings growth rate of 14% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 4.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NBF National Bank of Fujairah PJSCد.إ4.0014.3%
+د.إ1.3b		-22.3%PB1.4x

Latest News

ADCB
د.إ14.30
Abu Dhabi Commercial Bank PJSC
7D
-1.2%
1Y
67.8%
NBF
د.إ4.00
National Bank of Fujairah PJSC
7D
14.3%
1Y
-22.3%
EMIRATESNBD
د.إ24.40
Emirates NBD Bank PJSC
7D
-5.4%
1Y
17.6%

UAE Economic Diversification And Digital Banking Will Expand Global Reach

With both the discount rate and future P/E essentially unchanged, there is no material change to analysts’ valuation outlook for Emirates NBD Bank PJSC, with the consensus price target steady at AED28.67. What's in the News Upcoming board meeting scheduled to approve previous minutes, review Q2 2025 financial results, and consider regular business activities.
RAKBANK
د.إ7.85
National Bank of Ras Al-Khaimah (P.S.C.)
7D
-0.9%
1Y
45.9%
ADIB
د.إ22.30
Abu Dhabi Islamic Bank PJSC
7D
-5.1%
1Y
71.8%

Digital Transformation And Fintech Competition Will Shape Future Markets

The upward revision in Abu Dhabi Islamic Bank PJSC's price target reflects higher forecast revenue growth and an increased future P/E multiple, resulting in a new consensus fair value of AED23.38. What's in the News Upcoming board meeting scheduled to address temporary suspension of trading on shares.
DIB
د.إ9.38
Dubai Islamic Bank P.J.S.C
7D
-2.0%
1Y
47.5%

Overoptimism Will Undermine UAE Banking Prospects Amid Looming Risks

Despite a slight downward revision in revenue growth forecasts, the consensus analyst price target for Dubai Islamic Bank P.J.S.C was marginally increased from AED8.90 to AED8.99. What's in the News Dubai Islamic Bank participated as a Joint Lead Manager and Joint Bookrunner in a proposed USD-denominated perpetual non-call 6-year Additional Tier 1 Sukuk offering, subject to market conditions.
MASQ
د.إ239.50
Mashreqbank PSC
7D
-0.2%
1Y
-0.2%
CBD
د.إ9.73
Commercial Bank of Dubai PSC
7D
-0.7%
1Y
46.1%
FAB
د.إ15.66
First Abu Dhabi Bank P.J.S.C
7D
-5.0%
1Y
13.5%