Media ININ Economy We Trust
22-04-2019 Media in\ Abu Dhabi
Abu Dhabi Islamic Bank (ADIB) posted a net profit growth of 1.7% in the first quarter of 2011 to AED 600.3 million, while its revenues increased by 5.3% to AED 1,436 billion, due to growth of customer finance assets by 2.8% to AED 78.1 million and 57.5% To AED 185.3 million in addition to an increase of 29.6% in foreign exchange income. The bank continued its prudent risk policy with provisions for financing losses of AED 186.4 million.
ADIB recorded a healthy level of customer financing to deposits at 77.7% during the period ended 31 March 2019, maintaining its position as one of the most liquid banks in the UAE. Customer finance assets grew by 2.8% YoY, while the Bank continued to focus on enhancing the effectiveness of its risk management approach.
Total shareholders’ equity (including Tier 1 capital) amounted to AED 17.2 billion at 31 March 2019, an increase of 6.8% year-on-year and a cumulative growth rate of 3.6% over three years.
The capital adequacy ratio of the Bank of Abu Dhabi Islamic Bank (ADIB) stood at 17.53% as at 31 March 2019, while the Tier I capital adequacy ratio was 16.44% and the Tier I ratio of ordinary shareholders’ equity was 11.70% With Basel III standards and above the regulatory minimum set by the UAE Central Bank.
