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ADCB's net profits up 32% in Q1-22

ADCB's net profits up 32% in Q1-22
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ADCB
ADCB
1.08% 8.41 0.09

Abu Dhabi - Mubasher: The net profits attributable to the equity holders of Abu Dhabi Commercial Bank (ADCB) increased by 32% to AED 1.48 billion in the first quarter (Q1) of 2022 from AED 1.12 billion in the same quarter of 2021, according to the bank's consolidated interim financials for the three-month period ended 31 March 2022.

The bank's net interest income and income from Islamic financing and investing products rose to AED 2.14 billion in Q1-22 from AED 2.11 billion in Q1-21.

The basic and diluted earnings per share (EPS) stood at AED 0.20 in the first three months (3M) of 2022, versus AED 0.15 in the year-ago period.

It is noteworthy to mention that in 2021, the bank's net profits attributable to the equity holders hiked by around 38% year-on-year (YoY) to AED 5.24 billion, compared to AED 3.81 billion.