UAE banks continue to hit high growth in Q1-2025, with ADIB's net profit at D1.9b

24/04/2025 04:45 AST

The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.

The Abu Dhabi scored another win in getting its impairment costs lower by 3% to Dh106 million. Not just that, non-performing asset ratio of 3.7% is at its lowest level for ADIB since Q4-2016. This is 'due to the active re-mediation of our legacy portfolio coupled with strong underwriting standards', the bank said in a statement.

"We started the year with a strong performance, continuing the positive trajectory built over previous quarters," said Jawaan Awaidah Al Kahili, Chairman of ADIB.

"Our results are a clear reflection of our ability to grow profitably and execute our strategy with discipline. This outstanding performance was underpinned by strong revenue growth across all segments, improved cost efficiency and the best asset quality metrics we've seen to date."

Emirates NBD and RAKBank too have put up upbeat Q1-25 numbers, with banks confirming that loan demand among business and retail clients remain on solid footing.

For ADIB, the first three months saw an intake of 67,000 new customers. "Asset growth was exceptional this quarter, reflecting strong momentum in customer financing with Dh33 billion increase year-on-year," said Al Kahili. "This demonstrates our ability to capture market opportunities with speed and discipline."

Gulfnews

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