Latest news with #JawaanAwaidahAlKhaili
Zawya
24-04-2025
- Business
- Zawya
Abu Dhabi Islamic Bank's Q1 net profit up 18% at $462mln
Abu Dhabi Islamic Bank (ADIB) delivered a double-digit growth in net profit for the first quarter of the year, driven by higher lending and income from fees and commissions. Net profit after tax for the first three months of 2025 reached AED 1.7 billion ($462.8 million), reflecting an 18% increase over the same period last year. Revenues for the quarter grew by 14% to AED 2.9 billion, supported by higher income from financing activities and non-funding income. Funded income reached AED 1.8 billion, up by 4% from a year ago, while non-funded income jumped by 35% to AED 1.1 billion. The Islamic lender's total assets rose by a quarter to AED 244 billion, fueled by growth in both retail and corporate banking financing, as well as an expansion in the investment portfolio. Net profit margin slipped by only 36 bps to 4.31% despite a 100 bps cut in the benchmark rate. Cost to income ratio stood at 28.9%, an improvement from 30.4% 12 months earlier. 'We started the year with a strong performance, continuing the positive trajectory built over previous quarters. Our results are a clear reflection of our ability to grow profitably and execute our strategy with discipline,' Jawaan Awaidah Al Khaili, Chairman of ADIB, said. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
24-04-2025
- Business
- Zawya
ADIB's Q1 net profit before tax up by 18% y-o-y to $517mln
ABU DHABI: Abu Dhabi Islamic Bank reported a Q1 2025 net profit before tax of AED 1.9 billion, rising 18% year-on-year, reflecting a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth. Q1 2025 net profit before tax increased 18% compared to Q4 2024, reflecting significant growth and reinforcing the positive trajectory we have built over recent quarters. Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting a 18% increase compared to Q1 2024. Revenue for Q1 2025 improved by 14% to AED 2.9 billion compared to AED 2.5 billion for Q1 2024. This exceptional growth reflects broad-based performance across all key segments. This was supported by an increase in both income from financing activities and non-funding income. The strong business volumes along with continued strength in fee-based businesses, played a significant role in this improvement. Total assets increased by 25% year-on-year to reach AED 244 billion. This growth was driven by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio. Customer financing grew by 28% year-on-year, representing AED 33 billion increase compared to last year and AED 8 billion increase year to date. This reflects market share gains across key segments and wholesale banking closing landmark deals. Customer deposits rose by 25% year-on-year to AED 200 billion, compared with AED 160 billion at Q1 2024. This growth maintained a healthy funding mix, with a 12% year-on-year growth in Current and Savings Accounts (CASA), which now comprise 69% of total deposits. Jawaan Awaidah Al Khaili, Chairman of ADIB, said: ''We started the year with a strong performance, continuing the positive trajectory built over previous quarters. Our results are a clear reflection of our ability to grow profitably and execute our strategy with discipline.' This outstanding performance was underpinned by strong revenue growth across all segments, improved cost efficiency and the best asset quality metrics we've seen to date., he added.
Al Etihad
23-04-2025
- Business
- Al Etihad
ADIB's Q1 net profit before tax up by 18% year-on-year to Dh1.9 billion
23 Apr 2025 19:33 ABU DHABI (WAM)Abu Dhabi Islamic Bank reported a Q1 2025 net profit before tax of Dh1.9 billion, rising 18% year-on-year, reflecting a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth.Q1 2025 net profit before tax increased 18% compared to Q4 2024, reflecting significant growth and reinforcing the positive trajectory we have built over recent quarters. Net profit after tax for Q1 2025 was Dh1.7 billion, reflecting a 18% increase compared to Q1 for Q1 2025 improved by 14% to Dh2.9 billion compared to Dh2.5 billion for Q1 2024. This exceptional growth reflects broad-based performance across all key segments. This was supported by an increase in both income from financing activities and non-funding income. The strong business volumes along with continued strength in fee-based businesses, played a significant role in this assets increased by 25% year-on-year to reach Dh244 billion. This growth was driven by financing growth in both retail and corporate banking, as well as an expansion in the investment financing grew by 28% year-on-year, representing Dh33 billion increase compared to last year and Dh8 billion increase year to date. This reflects market share gains across key segments and wholesale banking closing landmark deposits rose by 25% year-on-year to Dh200 billion, compared with Dh160 billion at Q1 2024. This growth maintained a healthy funding mix, with a 12% year-on-year growth in Current and Savings Accounts (CASA), which now comprise 69% of total deposits.E Jawaan Awaidah Al Khaili, Chairman of ADIB, said: ''We started the year with a strong performance, continuing the positive trajectory built over previous quarters. Our results are a clear reflection of our ability to grow profitably and execute our strategy with discipline.' "This outstanding performance was underpinned by strong revenue growth across all segments, improved cost efficiency and the best asset quality metrics we've seen to date," he added.
