Media ININ Economy We Trust
Media In – Abu Dhabi 20 May 2018 / WAM /
The net income of commercial and Islamic banks operating in the Emirate of Abu Dhabi reached AED 7.9 billion during the first quarter of 2018, an increase of 2.8% compared to AED 7.68 billion in the same quarter of 2017.
According to the latest statistics compiled by the Abu Dhabi Center for Statistics, the net income of commercial banks based in the emirate reached AED 6.56 billion at the end of the first quarter of this year with growth of 3.5% compared to AED 6.34 billion in the first quarter of 2017.
On the Islamic banks, net income for the first three months of this year reached AED 1.32 billion compared to AED 1.33 billion in the same quarter of 2017.
Accordingly, conventional banks accounted for 83.1% of total net income earned by banks operating in the Emirate of Abu Dhabi from January to March, while 16.9% of net income was for Shariah compliant banks.
According to figures issued by the Statistics Center, the average rate of compensation of workers during the first quarter of the current year – wages, salaries, cash bonuses and in-kind benefits granted to employees – amounted to 41 thousand and 57 dirhams compared with about 41 thousand and 681 dirhams in 2017.
The statistics of the banks issued by the Statistics Center in Abu Dhabi are among the most important indicators aimed at identifying the characteristics of the activities of the banks operating in Abu Dhabi in order to put them in the service of decision makers and in a way that contributes to sustaining the economic development in the emirate.
