Monday 10, September 2018 by Kudakwashe

Abu Dhabi banks record 8.4 per cent net income in H1 2018

 

The increase is in line with the growth recorded across the UAE banking sector according to the statistics issued by the Central Bank of the United Arab Emirates (CBUAE).

The net income of commercial and Islamic banks operating in the emirate of Abu Dhabi amounted to AED 16.6 billion during H1 of 2018, an 8.4 per cent growth compared to the corresponding period last year, according to local newswire, WAM.

Additionally, the banks’ net profit increased by 7.2 per cent amounting to AED 10.4 billion.

The net investment income of banks stood at AED 2.5 billion in H1 2018, a 20 per cent increase from AED 2.1 billion during the same period in 2017.

Shari’ah-compliant banks remained at AED 2.26 billion, which is the same level recorded during the corresponding period last year.

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