Abu Dhabi-Mubasher: Abu Dhabi Islamic Bank (ADIB) posted a 6.9% growth in its first-quarter profits, according to a bourse statement.
Net profits reached AED 482 million ($131.20 million) in the first quarter of 2016, compared to AED 450.8 million ($122.71 million) in the same quarter of 2015.
Credit provisions and impairments rose by 6.7% to AED 216.2 million ($58.86 million) in Q1-16, compared to AED 202.6 million ($55.16 million) in Q1-15.
Customers’ deposits increased 9.6% to AED 95.99 million ($26.13 billion) during the period, compared to AED 87.602 billion ($23.85 billion).
Total assets went up 4.5% to AED 119.2 billion ($32.45 billion) in Q1-16.
