ADCB Q2/H1 2021 financial results

ADCB Q2/H1 2021 financial results



Abu Dhabi: – Abu Dhabi Commercial Bank PJSC ("ADCB" or the "Bank") today reported its financial results for the second quarter of 2021 ("Q2'21").

Strong performance in Q2'21 supported by higher fee income, lower cost of funds and improved cost to income ratio 



Key highlights - Q2'21






  • Net profit of AED 1.402 bn increased 14% YoY and 25% QoQ






  • Net interest income of AED 315 bn was 1% lower YoY and up 9% QoQ






  • Non-interest income of AED 840 mn increased 41% YoY and 5% QoQ on higher fees and trading income






  • Cost to income ratio of 33.4% improved 150 basis points YoY, on account of higher revenues, merger synergies, digital transformation and additional efficiencies






  • Impairment charges of AED 678 mn up 1% YoY and 4% lower QoQ




  Key highlights - H1'21 vs. H1'20



  • Net profit of AED 2.524 bn increased 76%






  • Net interest income of AED 434 bn was 14% lower






  • Non-interest income of AED 1.643 bn increased 28%