Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) recorded a 5.2% year-on-year (YoY) rise in net profits to AED 620 million over the third quarter (Q3) of 2019, compared to AED 589.5 million in Q3-18.

Net revenues totalled AED 1.503 billion over Q3-19, 5.5% up from AED 1.425 billion in the corresponding quarter in 2018, according to a company press release.

The period’s net customer financing was up by 1.0% to AED 79.2 billion from AED 78.4 billion a year earlier.

Over the first nine-month of 2019, the bank’s net profit rose by 5.6% at AED 1.850 billion from AED 1.752 billion a year earlier.

The net revenues of the period in 2019 came in AED 4.390 billion, 5.7% higher from AED 4.154 billion in the corresponding period in 2018.

Total assets remained unchanged at AED 124.3 billion during the nine-month period ended 30 September 2019, while credit provisions and impairments increased by 13.4% to AED 552.5 million during the nine-month period in 2019 from AED 487.0 million.

It is worth pinpointing that during the second quarter of 2019, the bank’s operating profit went up by 6.7% to AED 789.7 million versus AED 740.2 million in the year-ago period.