Business | Banking
ADIB earnings soar 47%
Abu Dhabi Islamic Bank (ADIB), one of three publicly listed Islamic lenders in the UAE, posted its second-biggest profit ever in the first quarter after boosting income from lending.
- Reuters
- Published: 00:05 April 28, 2008
Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), one of three publicly listed Islamic lenders in the UAE, posted its second-biggest profit ever in the first quarter after boosting income from lending.
ADIB's net income in the three months to March 31 - after distributing profit to depositors - rose 47 per cent to Dh244.25 million ($66.5 million), or Dh0.124 per share, compared to Dh165.78 million, or Dh0.109 a share in the year-earlier period, the bank said in a statement on the Abu Dhabi bourse website.
Net income from lending jumped 31 per cent to Dh481.1 million, the bank said.
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