Abu Dhabi banks net AED16.6B

Photo from ARGAAM.

Commercial banks in the emirate of Abu Dhabi registered a net income of AED16.6 billion during the first half of the year, the Central Bank of the United Arab Emirates (CBUAE) reported.

The net income is 8.4 percent more than in the same period last year. The increase comes in line with the growth recorded across the UAE banking sector based on statistics of the CBUAE.

Meanwhile, the net profits of Abu Dhabi-based banks also increased 7.2 percent to AED10.4 billion during the first six months of the year compared to the first semester of 2017.

Profits of the FAB, ADCB, Union National Bank & ADIB have exceeded expectations, according to banking analysts.

The Statistics Centre-Abu Dhabi put the net profits of commercial banks in the emirate AED16 billion during the first half of the year, an increase of 10.5 percent over the same period last year.

The net investment income of banks operating in the UAE capital stood at AED2.5 billion in the first semester of 2018, a rise of 20 percent from AED2.1 billion from that registered in January to June 2017.

The net income of Sharia-compliant banks remained at AED2.262 billion during the first half which is the same level recorded during the corresponding period last year.