Latest news with #IslamicBank
Zawya
23-07-2025
- Business
- Zawya
ADIB reports $1.09bln pre-tax profit in H1 2025
Abu Dhabi Islamic Bank (ADIB) today announced a 16 percent year-on-year increase in pre-tax net profit for the first half of 2025, reaching AED4 billion, reflecting strong balance sheet growth, continued business momentum, and a rising customer base. The bank delivered another record performance in Q2 2025, with pre-tax net profit up 14 percent year-on-year to AED2 billion. Net profit after tax for the first half reached AED3.5 billion, up 15 percent versus H1 2024. For the second quarter, net profit reached AED1.8 billion, an increase of 13 percent compared to the same period last year. Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024. This robust growth was driven by strong performance across all core business segments, supported by diversified income streams and continued expansion of fee-based activities. Income from funding grew 9 percent year-on-year to AED3.6 billion in H1 2025, compared to AED3.3 billion in the previous year, backed by increased business volumes and the bank's ability to generate sustainable returns despite lower market profit rates. Net profit margin stood at 4.27 percent, within the bank's target range, reflecting volume growth and effective balance sheet management. Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period. The growth in non-funding income was largely driven by a 28 percent increase in fee income, attributed to higher product sales across both retail and corporate segments, reflecting stronger customer activity and successful cross-selling initiatives. Non-funding income now contributes 39 percent of total operating income, underscoring the bank's continued strategic focus on income diversification. The cost-to-income ratio improved to 28.2 percent in H1 2025, down 40 basis points from 28.6 percent in H1 2024, driven by higher revenue and ongoing productivity measures. Operating expenses rose 9 percent year-on-year to AED1.7 billion in H1 2025, reflecting continued investment in talent, digital initiatives and emerging technologies.
Zawya
21-07-2025
- Business
- Zawya
Saudi Al Rajhi Bank's Q2 net profit jumps 31%, beats estimate
Saudi Arabia's Al Rajhi Bank, the world's largest Islamic bank, has reported a Q2 2025 net profit of 6.15 billion riyals ($1.64 billion), 31% higher year-on-year (YoY). The profit easily beat analysts mean estimate of SAR5.69 billion, according to data provider, LSEG. Total operating income was SAR9.6 billion, up 26% YoY. Net financing and investment income rose 24.7%. Provision for expected credit losses was 32% higher YoY at SAR600 million. Profit for H1 2025, rose 32% to SAR 12.06 billion. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
16-07-2025
- Business
- Zawya
QIB Profit grows by 5.3% to reach QAR 2,175mln for the six months' period ended 30 June 2025
Qatar Islamic Bank (QIB), Qatar's leading Islamic Bank, has announced the results for the six months' period ended 30 June 2025. Net Profit attributable to the Shareholders of the Bank amounted to QAR 2,175 Million for the six months' period ended 30 June 2025 representing a growth of 5.3% over the same period in 2024. Basic earnings per share for the six months period ended 30 June 2025 is QAR 0.92 compared to QAR 0.87 for the six months period ended 30 June 2024. The Board of Directors of QIB have authorized the distribution of interim cash dividend to shareholders of QAR 0.40 per share i.e. 40% of the nominal share value payable to eligible shareholders as at the close of trading on 24 July 2025, subject to Qatar Central Bank approval. Total Assets of the Bank as at 30 June 2025 stands at QAR 212.1 Billion representing a growth of 5.6% compared to QAR 200.8 Billion as at 31 December 2024 and up by 10.3% compared to 30 June 2024. Financing and investing activities were the primary drivers for the asset growth. Financing assets as at 30 June 2025 reached QAR 130.8 Billion, having grown by 4.4% compared to December 2024 and up by 3.1% compared to June 2024. Investment Securities reached QAR 60.1 Billion as at 30 June 2025, up by 13.4% against December 2024 and a growth of 21.9% compared to June 2024. Customer Deposits stand at QAR 135 Billion as at 30 June 2025 registering a growth of 8.0% compared to December 2024 and up by 10% compared to June 2024. Finance to Deposit Ratio of the Bank was 96.8% as at 30 June 2025, which is one of the lowest among its peer banks in Qatar reflecting the Bank's strong and stable liquidity position. Total Income for the six months' period ended 30 June 2025 was QAR 5,642.8 Million compared to QAR 5,609.3 Million for the same period in 2024 registering a growth of 0.6%. Net income from financing and investing activities stand at QAR 5,127.8 Million for the six months' ended 30 June 2025. Total Operating Expenses for the six months' period ended 30 June 2025 was QAR 537.7 Million. Efficient cost containment enabled the Bank to bring down the cost to income ratio to 16.4% which continues to be the lowest in the Qatari Banking sector. QIB was able to manage the ratio of non-performing financing assets to total financing assets at 1.75%, one of the lowest in the industry, reflecting the quality of the Bank's financing assets portfolio and its effective risk management framework. QIB continues to pursue the conservative impairment policy by building precautionary impairment charge for financing assets, other assets and other provisions and maintain a healthy coverage ratio for non-performing financing assets to 95.1% as at 30 June 2025. Total Shareholders' Equity of the Bank as at 30 June 2025 stands at QAR 28.1 Billion representing a growth of 3.4% compared to QAR 27.2 Billion as at 31 December 2024 and up by 9.2% compared to 30 June 2024. Total Capital adequacy of the Bank as per the new guidelines of QCB is 22% as at 30 June 2025, higher than the minimum regulatory requirements prescribed by Qatar Central Bank and Basel Committee. In June 2025, Fitch Ratings affirmed QIB credit rating at 'A' with a stable outlook. In June 2025 Moody's Investors Service, ('Moody's') affirmed the Long-term deposit ratings at 'A1' with a stable outlook. In March 2025, Capital Intelligence Ratings (CI) has affirmed the Bank's Long-term rating to 'AA-' with a stable outlook. In the first half of 2025, QIB continued to demonstrate a strong performance and leadership in the banking sector, earning multiple awards that reflect its ongoing commitment to excellence. QIB has been named Bank of the Year in the Middle East by The Banker and has received Qatar's Best Islamic Bank and Qatar's Best Digital Bank for SMEs at the Euromoney Awards for Excellence 2025, reaffirming its market leadership and dedication to delivering innovative Shari'a compliant digital financial solutions. Among the most recent achievements, QIB Group CEO has been named MENA Islamic Banker of The Year and the Bank has been awarded the Best Bank for Cross-Border Transactions By MEED. Additionally, QIB has received two major accolades at The Asian Banker Leadership Achievement Awards 2025; CEO Leadership Achievement for Qatar and Best Managed Bank in Qatar awards. The Bank has also reinforced its position at the forefront of AI-driven banking innovation in the region and has been recognized as Best Consumer Bank & Best Personalized Advice in Qatar and the Middle East at AI in Finance awards 2025 by Global Finance. QIB was also featured in the Middle East's Forbes Top 100 Listed Companies 2025, ranking 2nd in Qatar and 32nd across all listed companies in the Middle East. These accolades are a continuation of the Bank's numerous recognitions received in the first quarter, such as Best Bank in Qatar, Best Islamic Bank in Qatar, and Best SME Bank in Qatar by Global Finance as well as Qatar's Best Bank for High Net Worth individuals award by Euromoney.
Zawya
16-07-2025
- Business
- Zawya
Qatar Islamic Bank posts 5.3% rise in H1 2025 net profit
Qatar Islamic Bank (QIB), the largest Islamic bank in the GCC member state, posted a 5.3% year-on-year (YoY) rise in net profit to 2.18 billion riyals ($599 million) for H1 2025. Total income for the six-month period was QAR 5.64 billion, the Qatar Stock Exchange-listed bank said on Wednesday. Total assets as of end-June stood at QAR 212.1 billion, up 5.6% from QAR 200.8 billion as of end December 2024. (Writing by Brinda Darasha; editing by Daniel Luiz)
Zawya
08-07-2025
- Business
- Zawya
ADIB advances sustainable finance agenda with $4.7bln in sustainable finance mobilised
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over AED17 billion in sustainable finance as of year-end 2024, marking continued progress toward its AED60 billion sustainable finance commitment by 2030. This update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 vision. This year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 targets. These cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. As part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and people. ADIB's Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance issues. ADIB also published its inaugural Green Sukuk allocation and impact report for its US$500 million Green Sukuk issuance. As of December 2024, 90 percent of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided emissions. Operationally, ADIB reported an 87 percent drop in Scope 1 emissions compared to 2022 and a 3.51 percent reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the Group. Commenting on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future. Abdelbary added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44 percent Emiratisation rate, with women comprising 72 percent of UAE national hires and 39 percent of the total workforce.
