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ADCB records higher profits in Q1-21

ADCB records higher profits in Q1-21
The bank's net interest income decreased to AED 1.723 billion
ADCB
ADCB
0.35% 8.50 0.03

Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB) reported an increase in net profits attributable to the equity holders to AED 1.12 billion in the first quarter (Q1) of 2021 from AED 207.37 million in the same quarter of 2020, according to the bank's consolidated interim financials for the three-month period ended 31 March 2021.

The bank's net interest income decreased to AED 1.723 billion in Q1-21, compared to AED 2.213 billion in the year-ago period.

Meanwhile, the bank's total net interest income and income from Islamic financing and investing products reached AED 2.119 billion in the first three months of 2021, up 24% from AED 2.789 billion in the corresponding quarter of the earlier year.

The bank's total assets amounted to AED 395.819 billion as of 31 March 2021, down from AED 411.156 billion as of 31 December 2020.

The basic and diluted earnings per share (EPS) settled at AED 0.15 in Q1-21, against AED 0.01 in Q1-20.

It is noteworthy to mention that in 2020, the bank's net profits attributable to the equity holders declined to AED 3.806 billion, compared to AED 4.789 billion in 2019.