Media ININ Economy We Trust
MEDIA, Abu Dhabi, Sept. 9, 2018 (WAM)
Net income of commercial and Islamic banks operating in Abu Dhabi rose to 16.6 billion dirhams in the first half of 2018, an increase of 8.4 percent over the same period of 2017. The increase in the net income of Abu Dhabi banks since the beginning of the year to the end of June coincided with the growth witnessed by all indicators of the banking sector in the UAE, according to statistics published by the Central Bank of the UAE. Abu Dhabi-based banks posted net profits of AED 10.4 billion in the first half of 2018, up 7.2 percent from the same period in 2017. According to figures recorded by the Abu Dhabi Statistics Center, net interest income of commercial banks during the first six months of this year amounted to about 16 billion dirhams, an increase of 10.5% compared to the same period of 2017. Net income of the emirate’s banks rose from AED 2.5 billion in the first half of this year to 20% compared to AED 2.1 billion in the same period of 2017. At the level of Islamic banks, net income during the first half of this year stood at AED 2.262 billion, the same level as in the same half of 2017
