Abu Dhabi Commercial Bank acted as Joint Bookrunner on Yapi Kredi US$500 million PNC5.25-year Additional Tier 1 Bond Offering. The final orderbook reached around USD 1.1 billion, representing c. 2.2x oversubscription rate. ADCB is proud to be part of this successful offering.
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ADIB - Abu Dhabi Islamic Bank has reported a 45% growth in net profit for 2023, reaching Dh5.25 billion compared to Dh3.62 billion in 2022. The bank's Q4 2023 net profit reached Dh1.5 billion, reflecting a 29% growth compared to Q4 2022. Revenue for 2023 increased by 36% to Dh9.3 billion, driven by income diversification and growth across all business segments. The cost-to-income ratio improved to 32.9%, a 2.0 percentage point improvement from the previous year. ADIB also announced a dividend of 71 fils per share, equivalent to 49% of net profit. Total assets increased by 14% to Dh193 billion, with customer deposits rising by 14% to Dh157 billion. Gross customer financing increased by 6% to Dh120.2 billion. The bank maintained a strong capital position with a common equity tier 1 ratio of 12.2% and a total capital adequacy ratio of 16.8%. The eligible liquid asset ratio was 21.0%, comfortably within regulatory requirements. #UAE #Abudhabi #Islamic #Bank #Net #Profit
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ADIB - Abu Dhabi Islamic Bank has reported a 45% growth in net profit for 2023, reaching Dh5.25 billion compared to Dh3.62 billion in 2022. The bank's Q4 2023 net profit reached Dh1.5 billion, reflecting a 29% growth compared to Q4 2022. Revenue for 2023 increased by 36% to Dh9.3 billion, driven by income diversification and growth across all business segments. The cost-to-income ratio improved to 32.9%, a 2.0 percentage point improvement from the previous year. ADIB also announced a dividend of 71 fils per share, equivalent to 49% of net profit. Total assets increased by 14% to Dh193 billion, with customer deposits rising by 14% to Dh157 billion. Gross customer financing increased by 6% to Dh120.2 billion. The bank maintained a strong capital position with a common equity tier 1 ratio of 12.2% and a total capital adequacy ratio of 16.8%. The eligible liquid asset ratio was 21.0%, comfortably within regulatory requirements. #UAE #Abudhabi #Islamic #Bank #Net #Profit
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Abu Dhabi Islamic Bank (ADIB) has reported a 45% growth in net profit for 2023, reaching Dh5.25 billion compared to Dh3.62 billion in 2022. The bank's Q4 2023 net profit reached Dh1.5 billion, reflecting a 29% growth compared to Q4 2022. Revenue for 2023 increased by 36% to Dh9.3 billion, driven by income diversification and growth across all business segments. The cost-to-income ratio improved to 32.9%, a 2.0 percentage point improvement from the previous year. ADIB also announced a dividend of 71 fils per share, equivalent to 49% of net profit. Total assets increased by 14% to Dh193 billion, with customer deposits rising by 14% to Dh157 billion. Gross customer financing increased by 6% to Dh120.2 billion. The bank maintained a strong capital position with a common equity tier 1 ratio of 12.2% and a total capital adequacy ratio of 16.8%. The eligible liquid asset ratio was 21.0%, comfortably within regulatory requirements. #UAE #Abudhabi #Islamic #Bank #Net #Profit
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Doctorate in Digital Transformation (AI/ML Adoption) | CxO Advisor (Digital Strategy, Risks & Data Governance) | Author | Investor| Innovator | Golden Visa (Talent Category)
Hi.. I am writing to seek some guidance and attention of people who can help , regarding an issue someone, is currently facing with DIB Dubai Islamic Bank. The individual concerned previously resided in Dubai and recently returned on a visit visa. During her absence, her DIB account was closed, and the bank issued her a manager's cheque for the remaining balance. Upon attempting to encash the cheque at DIB branches, she was informed by branch managers that they can only transfer the amount to another DIB account holder or another bank account in her name, and they cannot provide the money to her in cash. The problem is she currently does not have any other bank account in the UAE, and cannot open a new one as she is on visit visa. She also doesn't want to transfer the amount to another DIB account holder because of the personal risk involved. This situation raises concerns about the legality of withholding her funds and imposing such conditions on encashment. I would like to inquire: 1. Is it legally permissible for DIB (Dubai Islamic Bank) to retain her funds and impose these conditions on encashment? 2. Does the Central Bank of the UAE allow such practices by any bank? I believe it doesn't but would like to confirm. Central Bank of The UAE Knowledgeable insights and guidance would be greatly appreciated, as I seek to understand the options she has to access her rightful funds (lifes savings). Tag those who can help. #UAEBanking #CustomerRights #FinancialServices #BankingRegulations
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📌Proposing a 45% dividend, Dubai Islamic Bank achieved a record net profit of Dh7 billion in 2023. 🚀In 2023, Dubai Islamic Bank witnessed a 26% surge in net profit, attributing the growth to increased non-funded income and reduced impairment charges. This significant profit increase led the largest Islamic bank in the UAE to elevate its dividend to 45% of the stock value held by a shareholder, up from the previous 30%. The group's net profit for the year ending December 31, 2023, stood at Dh7.01 billion, compared to Dh5.55 billion, marking a notable improvement. Lower impairment charges played a pivotal role, decreasing from Dh2.103 billion in FY 2022 to Dh1.396 billion in 2023, reflecting a 34% reduction. Additionally, customer deposits experienced a 12% growth, reaching Dh222 billion, compared to the previous year. Dubai Islamic Bank #FinancialGrowth #DubaiIslamicBank #BankingAchievement #DubaiEconomy #dubaifinance #uaejobs #uaejobseekers #BankingSuccess #bankingindustry #EconomicNews https://lnkd.in/d-7uAiMt
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We are launching a series of posts about the banking sector in the United Arab Emirates. Our first post will cover the overall market structure and the key players. The UAE features a traditional banking system with a Central Bank (established in 1980) that ensures the UAE's economic stability by setting key rates, regulating the industry, and monitoring legal compliance and money laundering. Khaled Mohamed Balama has been the head of the UAE Central Bank since April 5, 2021, with over 30 years in banking, financial services, asset management, and investments. Here are the top 5 banks in the UAE: - First Abu Dhabi Bank - Emirates NBD - Abu Dhabi Commercial Bank (ADCB) - Dubai Islamic Bank - Union National Bank Next, we'll discuss each bank's specializations. If you have questions about UAE banks, need to transfer money to the Emirates, or open a local bank account, contact us below—we're here to help with all these queries: https://ins.is/whatsapp #uaebanks #uaebankingsector
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If you are unsure whether a post dated cheque you received might be honored or not, you can find out the likelihood of the cheque bouncing with a service provided by Al Etihad Credit Bureau (AECB). This service is only available for cheques issued through UAE banks and dated within the upcoming 9 months. #ChequeBouncingPrediction #AECB #KANConsultancy
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Abu Dhabi Commercial Bank (ADCB) has announced its financial results for the second quarter of 2024 (Q2’24), showcasing a strong performance driven by double-digit year-on-year (YoY) growth in both net interest income and non-interest income, underpinned by robust #UAE economic fundamentals. According to the financial results statement, #ADCB's ambitious strategy for accelerated growth is propelling strong momentum in its operational and financial performance. The #bank's net profit before tax surged by 30% #YoY to AED 2.593 billion in Q2’24, and rose by 28% to AED 5.023 billion in the first half of 2024 (H1’24). Post-tax net profit for H1’24 stood at AED 4.456 billion, with Q2’24 net profit at AED 2.317 billion, representing a return on average tangible equity of 15.0% and 16.5%, respectively. Read more: https://lnkd.in/dCz_7hAs Abu Dhabi Commercial Bank #FintechNewsUAE #ABCD #FinancialResults #YOYGrowth #Growth #Performance #ProfitAfterTax #ProfitbeforeTax #Income #Profit #Equity #CAGR #Tech #Bankperformance #Innovation #Finance #H12024 #AbuDhabi #UAE #Dubai #UAEFintech #Banking #IslamicBanking #BankinginUAE #UAEStartups #UAEFintechNews #MiddleEast #MENA
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Following stellar Q2 financials from ADIB - Abu Dhabi Islamic Bank, I was joined by Acting Group CEO Mohamed Abdel Bary, CFA on Al Arabiya News Channel. We covered the factors behind their strong growth, including a 15% rise in deposits and 19% increase in financing. We also discussed market share, loan-to-deposit ratio, capital adequacy, and the significant drop in non-performing loans, plus insights on maintaining profit margins amid potential #Fed rate cuts. #ADIB
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Manama, the Kingdom of Bahrain: Khaleeji Bank B.S.C has announced a total net loss attributable to the Bank’s shareholders of BD 402 thousand during Q4 2023, compared to a profit of BD 3.12 million in the same period in 2022, a decrease of 112.87%. Earnings per share reached -4.251 Fils during Q4 2023, compared to 0.154 Fils for the same period of the previous year. Total income before return to investment account holders amounted to BD 21.578 million during the last quarter of this year, compared to BD 18.571 million for the same period of the year 2022, an increase of 16.19%. The increase is mainly attributable to the bank recording an increase in income from placements with financial institutions, investments in securities, fees and other income. To continue reading this article, please click on the below link: https://lnkd.in/dwKKfxF3
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Congratulations, great work.