Group Financial Highlights

Income Statement:

FYR 2018 vs. FYR 2017

  • Group net revenues for 2018 increased by 2.4% to AED 5,769.5 million vs. AED 5,632.3 million in 2017.
  • Credit provisions and impairments for 2018 decreased by 21.5% to AED 620.1 million vs. AED 790.4 million for 2017.
  • Group net profit for 2018 increased by 8.7% to AED 2,500.8 million vs. AED 2,300.1 million in 2017.

Q4 2018 vs. Q4 2017

  • Group net revenues for Q4 2018 increased by 13.1% to AED 1,615.3 million vs. AED 1,427.9 million in Q4 2017.
  • Credit provisions and impairments for Q4 2018 decreased by 20.2% to AED 133.1 million vs. AED 166.9 million for Q4 2017.
  • Group net profit for Q4 2018 increased by 23.2% to AED 748.3 million vs. AED 607.2 million in Q4 2017.

 

Balance Sheet:

31 December 2018 vs. 31 December 2017 and 30 September 2018

  • Total assets as of 31 December 2018 were AED 125.2 billion, representing an increase of 1.6% from AED 123.3 billion at the end of 31 December 2017 (and an increase of 0.7% from AED 124.3 billion at 30 September 2018).
  • Net customer financing increased by 2.8% to AED 78.7 billion, from AED 76.5 billion at the end of 31 December 2017 (and increased 0.3% from AED 78.4 billion at 30 September 2018).
  • Customer deposits increased by 0.4% to AED 100.4 billion, from AED 100.0 billion at the end of 31 December 2017 (and increased 1.9% from AED 98.5 billion at 30 September 2018). 

Capital adequacy and liquidity:

31 December 2018 vs. 31 December 2017 and 30 September 2018

  • The capital adequacy ratio under Basel III at 31 December 2018 was 17.18% vs. 16.09% at 31 December 2017, after adjusting for the 2018 dividend (30 September 2018 was 16.45%).
  • ADIB remains one of the most liquid banks in the UAE, with an advances to stable funds ratio (a regulatory ratio) of 82.9% at 31 December 2018, vs. 80.0% at 31 December 2017 (85.4% at 30 September 2018) and an advances to deposits ratio of 78.4% at 31 December 2018, vs. 76.5% at 31 December 2017 (79.6% at 30 September 2018).

Read the full report here.

-Ends-

About ADIB:

ADIB is a leading bank in the UAE with more than AED 125 billion in assets. Its 1,044,000 customers benefit from the third largest distribution network in the UAE with 80 branches and more than 680 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).

In the UAE, the Bank has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratisation ratios with approx. 36 percent of the bank’s workforce being UAE Nationals.

ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq.

Named World’s Best Islamic Bank by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.

For media information, please visit www.adib.ae  or contact:

Lamia Hariz                                                                 

Head of Corporate Communications                                              

ADIB                                                                             

Tel: +971 561623535                                                                    

Email:    lamia.hariz@adib.com     

© Press Release 2019

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