Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) on Sunday posted a rise in profits for both the first nine months of 2017 and the third quarter of the year.
Between January and September, the Abu Dhabi-based bank logged AED 3.206 billion ($870 million), up 2% year-on-year from AED 3.153 billion ($858 million), according to a filing to the Abu Dhabi Securities Exchange (ADX).
ADCB’s total assets amounted to AED 259.6 billion by the end of the first nine months of 2017, up 2% year-on-year from AED 254.7 billion.
The bank’s operating income amounted to AED 6.59 billion in the first nine months, up 4% from AED 6.324 billion, while total net interest and Islamic financing income rose 8% year-on-year to AED 4.983 billion from AED 4.628 billion.
As for the third quarter, ADCB’s profits grew 9% to AED 1.092 billion from AED 1.006 billion in the corresponding period of 2016.
Operating income increased 9% to AED 2.247 billion in Q3-17 from AED 2.109 billion a year ago, while total net interest and Islamic financing income grew 10% year-on-year to AED 1.677 billion from AED 1.528 billion, the statement showed.
The bank’s assets amounted to AED 259.6 billion by the end of September, up from AED 259.24 billion by the end of June 2017.
