Group Financial Highlights 

Income Statement: Q2 2019 vs. Q2 2018

  • Group net revenues for Q2 2019 increased by 6.3% to AED 1,450.5 million vs. AED 1,364.9 million in Q2 2018.
  • Operating profit (margin) grew 6.7% to AED 789.7 million vs. AED 740.2 million in Q2 2018
  • Group net profit for Q2 2019 increased by 10.0% to AED 630.1 million vs. AED 572.7 million in Q2 2018.
  • Credit provisions and impairments for Q2 2019 decreased by 4.1% to AED 158.6 million vs. AED 165.3 million for Q2 2018. 

Income Statement: First half 2019 vs. First half 2018

  • Group net revenues for H1 2019 increased by 5.8% to AED 2,887.1 million vs. AED 2,728.8 million in H1 2018.
  • Operating profit (margin) grew 6.5% to AED 1,576.5 million vs. AED 1,480.7 million in H1 2018
  • Group net profit for H1 2019 increased by 5.8% to AED 1,230.5 million vs. AED 1,163.0 million in H1 2018.
  • Credit provisions and impairments for H1 2019 increased by 9.4% to AED 345.0 million vs. AED 315.2 million in H1 2018. 

Balance Sheet: 30 June 2019 vs. 30 June 2018 and 31 December 2018

  • Total assets as of 30 June 2019 were AED 124.7 billion, representing an increase of 1.4% from AED 122.9 billion at the end of 30 June 2018 (and a decrease of 0.4% from AED 125.2 billion at 31 December 2018).
  • Net customer financing increased by 3.4% to AED 78.9 billion, from AED 76.3 billion at the end of 30 June 2018 (and increased 0.3% from AED 78.7 billion at 31 December 2018).
  • Customer deposits decreased by 1.4% to AED 99.8 billion, from AED 101.2 billion at the end of 30 June 2018 (a decrease of 0.6% from AED 100.4 billion at 31 December 2018). 

Capital adequacy and liquidity:  30 June 2019 vs. 30 June 2018 and 31 December 2018

  • The capital adequacy ratio under Basel III at 30 June 2019 was 18.33% vs. 16.83% at 30 June 2018, (31 December 2018 was 17.18%, after adjusting for the 2018 dividend).
  • ADIB remains one of the most liquid banks in the UAE, with an advances to stable funds ratio (a regulatory ratio) of 0% at 30 June 2019, vs. 81.5% at 30 June 2018 (82.9% at 31 December 2018) and an advances to deposits ratio of ­­­79.0% at 30 June 2019, vs. 75.4% at 30 June 2018 (78.4% at 31 December 2018).

Read the full report here.

-Ends-

© Press Release 2019

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