The financial statements of Abu Dhabi Islamic Bank revealed an increase in the bank's profits by the end of the first half of this year by 30%, on an annual basis.
According to the bank's results, profits for the period amounted to 1.44 billion dirhams, with a profit of 0.40 dirhams per share, compared to 1.108 billion dirhams in the first half of last year.
The bank attributed the growth in profits during the comparison periods to the decline in provisions for financing and investment losses by 38% to reach 227.4 million dirhams, compared to 366.8 million dirhams compared to the first half of 2021.
It is also due to the increase in operating revenues by 7% to reach AED 3,009.2 million during the first half of 2022, compared to AED 2815.6 million during the same period in the previous year.
This is due to the decrease in general and administrative expenses by 6%, to 282.4 million dirhams, compared to 299.8 million dirhams during the same period in the previous year.
