Abu Dhabi - Mubasher: The net income of banks operating in the emirate of Abu Dhabi reached AED 7.8 billion in the fourth quarter of 2017, according to a recent report by the Statistics Centre in Abu Dhabi (SCAD).
The net income of commercial banks represented 82.9% of the banks’ total income, the report said, indicating that Islamic banks made up the remaining 17.1%.
The SCAD attributed the increase in commercial banks’ revenues to the growth of other incomes and investment income by 35.3% and 11.2%, respectively.
By the end of Q4-17, the number of employees declined 10.3% to 11,900 workers in both commercial and Islamic banks, the report added.
Compensation for employees working in the emirate's banks rose 18.1% year-on-year in Q4-17.
