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Company News, Business, Banking & Finance, Economy

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

ADIB net profit in 2022 is $985m

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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