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ADIB adds 200,000 customers and a first-of-its-kind open finance licence as nine-month profit climbs to AED 6.4 billion

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ADIB adds 200,000 customers and a first-of-its-kind open finance licence as nine-month profit climbs to AED 6.4 billion

ADIB’s nine-month results, published today, show a bank growing on every line that matters. Revenue reached AED 9.7 billion, up 6 per cent year on year, with funded income rising 11 per cent to AED 6.1 billion as financing volumes expanded across both retail and wholesale banking. Non-funded income held broadly flat at AED 3.6 billion, but the direction of travel inside that figure is instructive: net fee and commission income hit AED 591 million in the third quarter, up 11 per cent on the previous quarter and 9 per cent on the year, lifted by card income and processing fees.

Profit after tax for the period was AED 5.6 billion, up 6 per cent, delivering a return on equity of 28 per cent, which the bank describes as industry-leading. Earnings per share rose 5 per cent to AED 1.38.

The balance sheet grew faster than the income statement. Total assets climbed 18 per cent to AED 318 billion. Gross customer financing rose 25 per cent year on year, an increase of AED 43 billion over twelve months, to AED 218 billion. Retail financing was up 21 per cent to AED 109 billion and wholesale financing up 29 per cent to AED 86 billion, with financing to government-related entities now accounting for 26 per cent of the book. Customer deposits grew 17 per cent to AED 259 billion, and current and savings accounts still make up 60 per cent of that total, one of the highest CASA ratios in the sector.


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