ADCB’s net loans grew 21.0% YOY and 3.6% QOQ to AED 344.0 Bn in 2Q24 mainly driven by increased lending to GRE and other key sectors while real estate exposure declined in 3Q24.

Net funded income declined 1.1% YOY to AED 3.1 Bn owing to higher cost of funds & low asset yield. NIMs declined 43 bps YOY to 2.2% due to lower asset yield & higher cost of funds. Non-funded income grew strongly 48.9% YOY to AED 1.6 Bn attributed to growth in fee and commission income and higher net trading income.

ADCB’s net loans grew 22.1% YOY and 4.4% QOQ to AED 332.2 Bn in 2Q24, mainly driven by increased lending to GRE and other key sectors, while real estate exposure declined in 2Q24.

ADCB’s net loans grew 20.7% YOY and 5.4% QOQ to AED 318.2 Bn in 1Q24, mainly driven by increased lending to GRE and other key sectors while real estate exposure declined from 17% in 2023 to 16% in 1Q24

ADCB’s net loans grew 16.8% to AED 302.0 Bn in 4Q23, mainly driven by increased lending to GRE and other key sectors while real estate exposure declined from 22% in 2022 to 17% in 2023.

ADCB’s net loans rose 13.2% YOY in 3Q23 mainly driven by increased lending to GRE and other key sectors while real estate exposure declined 6.8% YTD in 3Q23

ADCB’s net loans rose 5% on a YTD basis, mainly driven by increased lending to GRE and retail customers, whereas real estate exposure declined from 22% in 4Q22 to 20% in 2Q23.

Abu Dhabi Commercial Bank’s (“ADCB”, “The Bank”) net profit rose 26.7% YOY to AED 1,879 Mn in 1Q23, higher than our estimate of AED 1,766 Mn. The increase in net profit is primarily driven by a strong growth in net funded which grew due to increase in loan growth and higher interest rates, partially offset by a rise in operating expenses and impairments.

Abu Dhabi Commercial Bank’s (“ADCB”, “The Bank”) net profit rose 23.8% YOY to AED 1,786 Mn in 4Q22, slightly higher than our estimate of AED 1,715 Mn.