Abu Dhabi Islamic Bank Group (ADIB group) declared results for the 1st Half of 2012, reported net revenues of AED 1.76 billion, an Increase of 2.4 percent compared with AED 1.72 billion of the same period last year.
ADIB Group’s net profit amounted to AED 629.9 million, after taking credit provisions and impairments of AED 372.7 million for First half of 2012, versus a net profit of AED 619.8 million of the corresponding period in 2011.
ADIB Group net revenue from funding activities for the first half of 2012 increased to AED 1,446.9 million, an increase of 4.3% against. 1,387.4 million for H1 2011.
ADIB Group fee and commission income for H1 2012 decreased by 2.6% to AED 210.8 million compared from AED 216.4 million in H1 2011.
While the revenues from the main banking activities, Abu Dhabi Islamic bank for H1 2012 increased to AED 1,762.9 million vs. AED 1,689.5 million in H1 2011, a 4.3% increase.
The Bank’s net profit for H1 2012 was AED 757.0 million, after taking credit provisions and impairments of AED 295.7 million for the first half vs. a net profit of AED 731.9 million in H1 2011.
The Capital Adequacy ratio of the main bank at 30 June 2012 stood at 16.55% versus 16.10% recorded at 30 June 2011 (17.39% at 31 Dec 2011).
The Customer Financing to Deposits ratio at 30 June 2012 was 83.0% against 90.5% at 30 June 2011 (88.5% at 31 Dec 2011).
The Advances to Stable Funds ratio (a regulatory ratio) moved to 80.8% at 30 June 2012 from 87.8% at 30 June 2011 (83.4% at 31 Dec 2011).
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