Abu Dhabi banks’ net income hits AED 8.7bn in Q2

Abu Dhabi – Mubasher: Net income of the Abu Dhabi-based commercial and Islamic banks stood at AED 8.7 billion in the second quarter of 2018.

Commercial banks’ net income made up about 85% of total income, while the income of sharia-compliant lenders accounted for 15%, according to a report released by the Statistics Centre of Abu Dhabi (SCAD).

The increase in total revenues of the Emirati capital’s commercial banks in Q2-18 was mainly driven by a growth of 21% in investment income, the SCAD noted.

Net interest at the emirate’s banks rose by 16.9% as compared with Q2-17, according to the report.

The number of employees at Abu Dhabi’s commercial and Islamic banks reached 11,800 at the end of June, the report indicated.

Total compensations for employees rose by 10.2% year-on-year in the three-month period, the report added.

Mubasher Contribution Time: 06-Sep-2018 08:06 (GMT)
Mubasher Last Update Time: 06-Sep-2018 12:36 (GMT)