DU’s revenue increased 4.6% YOY to AED 4.1 Bn in 2Q26, driven by continued growth in Mobile, Fixed, and Wholesale revenues, partially offset by lower ICT revenues. Net profit increased 9.8% YOY to AED 798 Mn in 2Q26, driven by higher revenue and lower direct costs.

ADCB's Net profit attributable to equity shareholders increased 31.5% YOY to AED 3.4 Bn in 2Q26, in in line with our estimate of AED 3.3 Bn. The increase in net profit was mainly driven by higher net funded and non-funded income along with significantly lower impairments, partially offset by higher operating expenses.

Commercial Bank of Dubai (“CBD, “the Bank”) net profit grew 2.1% YOY to AED 886 Mn in 2Q26, in line with our estimate of AED 867 Mn. The growth was supported by higher non-funded income and lower impairment charges, partially offset by lower net funded income, higher operating expenses and taxes.

Alinma Bank (ALINMA/ The Bank) reported a 1.4% YOY increase in net profit to SAR 1,595 Mn in 2Q26, lower than our estimate of SAR 1,700 Mn. The increase in net profit was primarily driven by higher net funded income, partially offset by lower non-funded income, increased operating expenses, and higher impairment and zakat charges.

Al Rajhi Bank’s (“ALRAJHI”, “The Bank”) net profit attributable to equity shareholders grew 14.0% YOY to SAR 7,012 Mn in 2Q26, in line with our estimate of SAR 6,876 Mn. The growth is primarily driven by double-digit growth in net funded income and non-funded income coupled with decline in zakat charges partially offset by an increase in total operating expenses, higher impairments and higher share of profit to NCI holders.

CBD's Net profit increased by 2.1% YOY and 6.7% QOQ to AED 886 Mn in 2Q26, supported by lower impairment charges and higher non-funded income, partially offset by lower net funded income, higher operating expenses, and taxes.