The financial statements of Abu Dhabi Islamic Bank showed an increase in the bank's profits in the first quarter of this year by a significant rate of 107% year on year.
According to the bank's results for the Abu Dhabi Financial Market, today, Thursday, the profits for the period amounted to 5.1 billion dirhams, as the largest quarterly profit for the bank in its history, with a quarterly return for them of 1.84 dirhams.
The bank said in a statement to the stock exchange that the increase in profits at the end of the period was mainly due to the growth of operating revenues by 2% to 4.5 billion dirhams, in addition to achieving gains of 2.8 billion Dirhams as a result of selling a stake in Maganti Payments Company.
The facilities provided by the bank during the first quarter of 2022 increased by 15% to 434 billion dirhams, offset by customer deposits of 600 million dirhams, with a growth rate of 6%.
