Net income of Abu Dhabi banks amounts to AED16.6 billion in H1 2018
The net income of commercial and Islamic banks operating in the emirate of Abu Dhabi amounted to AED16.6 billion during H1 of 2018, a growth of 8.4 percent over the corresponding period last year.
The increase comes in line with the growth recorded across the UAE banking sector according to the statistics issued by the Central Bank of the United Arab Emirates.
The net profits of Abu Dhabi-based banks increased to AED10.4 billion during the first six months of the year, up 7.2 percent over the same period in 2017.
According to banking analysts, the profits of four Abu Dhabi-based banks (FAB, ADCB, Union National Bank & ADIB) have exceeded expectations, with the four banks displaying a very positive performance.
According to figures published by the Statistics Centre-Abu Dhabi, the net profits of commercial banks during the first six months of the year reached AED16 billion, an increase of 10.5 percent over the same period last year.
The net investment income of banks operating in the UAE capital stood at AED2.5 billion during the first half of the year, a rise of 20 percent from AED2.1 billion as compared to the same period in 2017.
The net income of Sharia-compliant banks remained at AED2.262 billion during H1, which is the same level recorded during the corresponding period last year.
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