Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) witnessed a 43% year-on-year (YoY) rise in net profits attributable to the equity holders to AED 1.602 billion in the first nine months of 2021 from AED 1.121 billion in the same period of 2020, as shown by the bank's consolidated financials for the nine-month period ended 30 September 2021.
The bank's net revenues rose by 4.1% to AED 4.092 billion in the January-September period of 2021 from AED 3.932 billion in the year-ago period.
The bank's assets jumped to AED 133.381 billion as of 30 September 2021, compared to AED 127.816 billion as of 31 December 2020.
During the third quarter (Q3) of 2021, the bank's net profits amounted to AED 492.629 billion, down from AED 533.434 billion in the corresponding period of 2020.
The bank's Chairman, Jawaan Awaidah Al Khaili, commented: "Looking ahead and despite ongoing uncertainties, we believe that the UAE economy has the potential to have extremely robust, multi-year growth supported by positive consumer sentiment around the end of the pandemic."
It is noteworthy to mention that during the first half (H1) of 2021, ADIB reported a surge in the net profits attributable to the equity holders to AED 1.108 billion, compared to AED 587.087 million in the year-ago period.
