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Abu Dhabi Islamic Bank has reported 18 percent y-o-y growth in Q1 2022 net profit to 715 million dirhams ($195 million), owing to higher revenues and lower impairments.
Revenue for the period rose 6 percent to 1.40 billion dirhams compared with 1.33 billion dirhams in the year-ago period, the Abu Dhabi Securities Exchange listed lender said in a filing on Wednesday.
Earnings per share in Q1 2022 was 0.17 dirham versus 0.14 dirham year ago.
Provision for impairment was 15 percent lower at 113 million dirhams versus 134 million dirhams in the same quarter in 2021.
Funded income edged up 1 percent y-o-y to reach 789 million dirhams, while non-funded income rose 12 percent y-o-y to 620 million dirhams.
(Writing by Brinda Darasha; editing by Seban Scaria)
