The non-funded income grew 24.7% YOY to AED 1,064 Mn in 3Q24. NPL ratio (reported) declined 222 bps YOY and 32 bps QOQ to 4.4%, at its lowest levels since FY2017. Additionally, ADIB expects its NPL ratio to drop below 4.0% by 2024 year-end.

Gross customer financing grew 18.7% YOY to AED 136.6 Bn in 2Q24, driven by growth in retail and wholesale financing segments across government and public sector enterprises.

Gross customer financing grew 7.6% YOY to AED 121 Bn, driven by growth in retail and wholesale financing segments across government and public sector enterprises.

ADIB recorded strong 13.7% YOY growth in customer deposits to AED 157.06 Bn driven by a 9% rise in CASA deposits, which accounts for 65% of total deposits as of 4Q23

ADIB recorded strong 27.5% YOY growth in customer deposits and 14.6% YOY growth in net advances

ADIB recorded strong 30.6% YOY growth in customer deposits and 18.6% YOY growth in net advances

Abu Dhabi Islamic Bank’s (ADIB or the Bank) net profit rose 48.0% YOY to AED 1,059 Mn in 1Q23, higher than our estimate of AED 969 Mn.

Abu Dhabi Islamic Bank’s (ADIB or the Bank) net profit rose 56.0% YOY to AED 1,136 Mn in 4Q22, exceeding our estimate of AED 1,008 Mn. The increase in net profit was mainly driven by a solid rise in net funded and non-funded income partially offset by a rise in operating expenses and higher impairments.

Abu Dhabi Islamic Bank’s (ADIB or the Bank) net profit more than doubled rose from AED 493 Mn to AED 1,010 Mn in 3Q22, beating our estimate of AED 768 Mn.