Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) generated net profits attributable to the shareholders worth AED 1.87 billion in the first quarter (Q1) of 2023, an annual leap of 27% from AED 1.48 billion.
The operating income enlarged by 33% year-on-year (YoY) to AED 3.91 billion in Q1-23 from AED 2.93 billion, according to the consolidated interim income statements.
Basic and diluted earnings per share (EPS) stood at AED 0.23 in January-March 2023, versus AED 0.19 in the year-ago period.
The total assets amounted to AED 501.42 billion as of 31 March 2023, up 13% YoY from AED 445.67 billion. Meanwhile, the clients’ deposits surged by 19% to AED 310.58 billion from AED 261.89 billion.
On a quarterly basis, the bank’s net profits attributable to the owners in Q1-23 increased by 5% from AED 1.78 billion, while the operating income declined by 11% from AED 4.40 billion.
Ala'a Eraiqat, Group CEO of ADCB, highlighted: “In Q1-23, ADCB welcomed over 114,000 new retail customers, with 80% joining through digital channels.”
Eraiqat added: “The bank's cards business, personal and auto loans, and mortgages provided combined asset growth of 11% YoY, reflecting positive consumer sentiment and ADCB's ability to remain closely attuned to the market.”
Last year, ADCB witnessed 23% higher net profits attributable to the equityholders at AED 6.43 billion, compared to AED 5.24 billion in 2021.
