Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB), listed on the Egyptian Exchange (EGX) as well, posted an annual hike of 22% in net profit attributable to the owners to AED 4.65 billion in the first nine months (9M) of 2022, compared to AED 3.79 billion.

The basic and diluted earnings per share (EPS) settled at AED 0.64 in 9M-22, higher than AED 0.52 in 9M-21, according to the bank’s financial results.

Additionally, the total net interest income and income from Islamic financing and investing products jumped by 10% year-on-year (YoY) to AED 7.27 billion in January-September 2022, versus AED 6.61 billion.

ADCB’s assets totalled AED 486.36 billion in 9M-22, up 10% from AED 440.27 as on 31 December 2021.

In the third quarter (Q3) of 2022, the net profits attributable to the equityholders rose by 25% YoY to AED 1.59 billion from SAR 1.27 billion, while the basic and diluted EPS increased to AED 0.21 from SAR 0.17 in Q3-21.

Furthermore, the total interest income and income from Islamic financing products surged by 17%YoY to AED 2.55 billion in Q3-22 from AED 2.17 billion.

Ala'a Eraiqat, Group CEO of ADCB, said: “

The bank has recorded loan growth of 3% year to date, as lending increased to diverse economic sectors. Meanwhile, ADCB’s strong franchise has continued to attract significant customer deposits, which exceeded the AED 300 billion mark for the first time at the end of September.”

Eraiqat added: “Al Hilal Bank’s super app has attracted over 157,000 registered users since its launch in February, while investment in digital is also powering growth of ADCB Egypt, which has recorded a 46% increase in nine-month net profit.”

During the January-June 2022 period, the net profits attributable to the shareholders of ADCB surged to AED 3.05 billion from AED 2.52 billion in the year-ago period.