ADIB makes record profit

Abu Dhabi Islamic Bank (ADIB) has announced earnings for the nine months to the end of September up 21.1 per cent with customer deposits up 18.2 per cent compared to the corresponding period last year. Profit reached AED1.34bn compared to AED1.11bn for the same period last year. The CEO of ADIB said that all customer-facing units, retail banking, private banking, community banking and wholesale banking continued to grow market share and as a consequence, ADIB’s customer financing assets increased 21.7 per cent year-on-year to AED71.6bn backed by an 18.2 per cent increase in customer deposits to AED82.9bn over the same period.