Publicly-listed companies in the UAE saw their value rise by an average of 10% in the first half of 2022, according to state news agency WAM.
The figures were based on the financial statements of the 118 listed companies in the country.
They showed that assets increased from AED4.31 trillion (US$1.17 trillion) to AED4.74 trillion ($1.30 trillion) in the first six months of the year.
The 118 companies include 74 listed on the Abu Dhabi Securities Exchange and 44 listed on the Dubai Financial Market, which rose by 10% and 9.7%, respectively.
The banking sector was the chief contributor to the asset boost, with 17 banks accounting for 69% of the assets.
Among those banks, First Abu Dhabi Bank was the leading company in terms of assets, valued at AED1.07 trillion ($290 billion).
©2022 funds global mena