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Emirates Stallions Group (ESG) reported a significant operational profit of AED 119 million for the first half of 2024, marking a 128% increase year-over-year. Revenue also saw a substantial rise to AED 640 million, a 140% increase compared to the same period in 2023. The company's total assets grew to AED 3.38 billion, a 10% increase from December 2023, while total equity rose by 5% to AED 2.4 billion. The book value per share increased by 5% to AED 9.59. ESG's growth is attributed to strategic portfolio expansion and strong business fundamentals. The leadership highlighted their commitment to operational optimization and exploring new opportunities in future-focused sectors.

Commercial Bank International (CBI) has released its financial results for the first half of 2024. The report includes a detailed management discussion and analysis, providing insights into the bank's financial performance and strategic initiatives during this period.

The document is a review report and interim financial information for Commercial Bank International P.J.S.C. for the six-month period ending on June 30, 2024.

Commercial Bank International (CBI) reported a 14% year-on-year increase in pre-tax net profit for the first half of 2024, rising from AED 78.9 million in H1-2023 to AED 89.9 million in H1-2024. Key financial highlights include a 24.6% increase in customer deposits, growing from AED 11.4 billion to AED 14.2 billion, and a 1.9% rise in loans and advances, from AED 12.3 billion to AED 12.5 billion. The capital adequacy ratio improved to 15.3% as of June 2024. CEO Ali Sultan Rakkad Al Amri attributed the strong performance to strategic initiatives and a customer-centric approach, emphasizing plans to enhance customer experience and support the UAE's economic prosperity in the future.

Abu Dhabi Future Energy Company PJSC (Masdar), in which Abu Dhabi National Energy Company PJSC (TAQA) holds a 43% share, has announced an agreement with Spanish company Endesa S.A. for Masdar to acquire a 49.9% stake in Endesa’s operational photovoltaic (PV) assets in Spain. The portfolio includes 48 PV facilities with a total installed capacity of around 2 GW and potential battery energy storage system (BESS) hybridization up to 0.5 GW. Masdar will invest €817 million (AED 3.2 billion) in this transaction, expected to close by the end of 2024, pending regulatory and customary approvals. For more details, refer to Masdar’s full announcement on their website.