ADCB reports record quarterly net profit of AED 1.591bln

ADCB reports record quarterly net profit of AED 1.591bln

Abu Dhabi:– Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the third quarter of 2022 (“Q3’22”).

- Solid earnings growth as UAE economy remains resilient against challenging global backdrop

Key highlights – Q3’22 vs. Q3’21

> Net profit of AED 1.591 bn increased 25%

> Net interest income of AED 2.558 bn increased 17%

> Non-interest income of AED 952 mn increased 31%

> Operating income of AED 3.510 bn increased 21%

> Operating profit before impairment charge of AED 2.269 bn increased 20%

Key highlights – 9M’22 vs. 9M’21

> Net profit of AED 4.650 bn increased 22%

> Net interest income of AED 7.276 bn increased 10%

> Non-interest income of AED 2.665 bn increased 13%

> Operating income of AED 9.941 bn increased 11%

> Operating profit before impairment charge of

AED 6.355 bn increased 9%

> Impairment charge of AED 1.586 bn decreased 20%

- Rise in loans and deposits has reinforced balance sheet strength

(All numbers are as at 30 September 2022 unless otherwise stated)

> Total assets of AED 486 bn increased 10% from Dec’21

> Net loans and advances to customers were AED 251 bn at September-end, up 3%

(or AED 7 bn) over Dec’21

– New corporate credit extended totalled AED 49 bn in the first