Recent Research

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  FIRST LOOK NOTES

  25 Jul 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  23.80

  Target Price

  25.00

  Upside (%)

  +5.04%

  Abu Dhabi Islamic Bank (ADIB)- 2Q25 First Look Note

  Net profit increased 12.3% YOY to AED 1,676 Mn in 2Q25, driven by a rise in core business volumes, continued customer acquisition, and growth in fees and commission income. CASA deposits accounted for 66% of the total deposits, demonstrating the bank’s solid low-cost funding base.

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  EARNINGS CALL INSIGHT

  25 Jul 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  23.80

  Target Price

  25.00

  Upside (%)

  +5.04%

  UAE Equity Research- Abu Dhabi Islamic Bank (ADIB)-2Q25-Earnings Call Insight

  Net funded income grew 13.8% YOY to AED 1.9 Bn in 2Q25, primarily driven by strong growth from Islamic Financings, partially offset by an increase in funded expense. ADIB continued to expand its customer base, with 145,000 new customers joining in 1H25, bringing its total customer base to 2 Mn with 75% acquired through digital channels.

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• 

  FIRST LOOK NOTES

  28 Apr 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  17.84

  Target Price

  18.50

  Upside (%)

  +3.70%

  UAE Equity Research - Abu Dhabi Islamic Bank (ADIB) 1Q25 - First Look Note

  Net profit increased 19.1% YOY in 1Q25 driven by strong growth in funded and non-funded income. The Bank anticipates its NIMs to stay stable and shall experience a gradual decline after the interest rate cut. NPL ratio declined from 4.0% in 4Q24 to 3.7% in 1Q25, at its lowest levels since FY2017.

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• 

  EARNINGS CALL INSIGHT

  25 Apr 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  18.04

  Target Price

  18.50

  Upside (%)

  +2.55%

  UAE Equity Research - Abu Dhabi Islamic Bank (ADIB) 1Q25 - Earnings Call Insight

  Net funded income grew 3.6% YOY to AED 1.75 Bn in 1Q25, driven by strong growth from Islamic Financings partially offset by an increase in funded expense. ADIB continued to expand its customer base, with 67,000 new customers joining in 1Q25 taking total customer base to c. 2 Mn, reflecting the bank’s growing appeal and strong market position.

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• 

  FIRST LOOK NOTES

  24 Apr 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  16.90

  Target Price

  17.00

  Upside (%)

  +0.59%

  UAE Equity Research - Abu Dhabi Islamic Bank (ADIB) 1Q25 - Earnings Flash

  Abu Dhabi Islamic Bank (ADIB) reported a Strong Financial Performance with Net profit after tax for 1Q25 was AED 1.7 Bn reflecting 18% increase compared to 1Q24 which beats our estimates of AED 1.43 Bn, driven by strong business volumes coupled with strength in fee-based businesses, higher Investment income and FX income, and improved non-performing asset ratios.

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• 

  FIRST LOOK NOTES

  03 Feb 2025

  Abu Dhabi Islamic Bank (ADIB)

  HOLD

  Last Closing Price

  15.60

  Target Price

  16.00

  Upside (%)

  +2.56%

  UAE Equity Research - Abu Dhabi Islamic Bank (ADIB) 4Q24 - First Look Note

  ADIB expects its gross financing to grow more than 10% YOY in 2025. The Bank anticipates its NIMs to stay stable and shall experience a gradual decline after the interest rate cut. NPL ratio declined from 4.4% in 3Q24 to 4.0% in 4Q24, at its lowest levels since FY2017.

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