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Emirates International Investment Company acquires additional 7.6% stake in Abu Dhabi Islamic Bank. File pic
By TRENDS Desk
January 30, 2023 9:01 pm
  • ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
  • The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.

ABU DHABI,  UAE –  Abu Dhabi Islamic Bank (ADIB) announced a net profit of US$985 million (AED 3.62 billion) in 2022, a 55 percent increase from the previous year.

The bank also reported a 60 percent growth in Q4 2022 with a net profit of US$326 million (AED 1.2 billion), compared to US$198 million (AED 728 million) in Q4 2021.

ADIB’s revenue increased by 23 percent to $1.8 billion in 2022, driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.

The Chairman of ADIB, Jawaan Awaidah Al Khaili, said the results will allow the bank to invest and grow, while supporting the national economy and UAE’s sustainability agenda.

The CEO, Nasser Al Awadhi, added that the bank will continue to invest in growth and transformation to deliver sustainable returns to shareholders.

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