Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) posted a 30% year-on-year (YoY) surge in consolidated net profit after tax and zakat of AED 3.02 billion during the first half (H1) of 2024 from AED 2.32 billion.

Total operating income soared by 25% YoY to AED 5.34 billion in H1-24 from AED 4.26 billion, according to interim financial results.

The earnings per share (EPS) jumped by 30% to AED 0.74 in the six-month period that ended on 30 June from AED 0.57.

Total assets rose by 17% YoY to AED 213.40 billion in the January-June period, while customers’ deposits increased by 15% YoY to AED 172.24 billion in the same period.

Second Quarter

During the second quarter (Q2) of 2024, the bank’s consolidated net profit after tax and zakat leapt by 29% YoY to AED 1.57 billion from AED 1.22 billion.

Total operating income soared by 27% YoY to AED 2.83 billion in Q2-24 from AED 2.22 billion in Q2-23.

Jawaan Awaidah Al Khaili, Chairman of ADIB, said: “The UAE once again proved itself to be a haven of economic and financial stability, recording strong growth driven by an acceleration of economic diversification.”

“Against this backdrop, ADIB remained committed to take advantage of the growth opportunities while we continue to invest in technology and innovation to drive efficiencies and enhance our service,” Al Khaili added.

Mohamed Abdelbary, Acting Group CEO of ADIB, stated: “ADIB's brand equity strength, along with our strong financial and capital position allow us to leverage the opportunities presented by the strong UAE economy."

ADIB logged a net profit of AED 1.45 billion during the first quarter (Q1) of 2024, up from AED 1.10 billion in Q1-23.