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|05 December, 2018

Abu Dhabi banks’ income rises 3% in 9 months

Net income from investment for Abu Dhabi banks grew 18.7% year-on-year to AED 3.84 billion

First Abu Dhabi Bank head office situated at Khalifa Business Park Abu Dhabi.

First Abu Dhabi Bank head office situated at Khalifa Business Park Abu Dhabi.

First Abu Dhabi Bank/ Handout via Thomson Reuters Zawya

Abu Dhabi – Mubasher: Net income for commercial and Islamic banks operating in the emirate of Abu Dhabi grew by 3.2% year-on-year in the first nine months of 2018 to AED 23.7 billion from AED 23 billion, data released by the Statistics Centre - Abu Dhabi (SCAD) showed.

Net income from investment for Abu Dhabi banks grew 18.7% year-on-year to AED 3.84 billion between January and September, SCAD said, noting that Islamic banks accounted for 15% of this value.

In the first half of the year, net income for the emirate’s banks had increased by 8.4% to AED 16.6 billion from the prior year.

Source: Mubasher

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