Abu Dhabi Islamic Bank (ADIB) has reported a net profit after tax of AED1.93bn for 2015, a rise of 10.4% compared to AED 1.75bn in the prior year.
The UAE-based lender’s net revenue for the year was AED5.13bn, up 12% from AED4.58bn a year ago.
Operating profit increased 9.8% to AED2.76bn in 2015 from AED2.51bn in 2014. Customer deposits increased 11.9% year-on-year to AED94.93bn.
The bank’s cost to income ratio rose to 46.2% from 45.3% a year earlier. Tier 1 ratio – Basel II increased to 14.59% from 13.87% in the prior year.
ADIB CEO Tirad Al Mahmoud said: "2015 has been a year of investment for ADIB. We remain focused on our strategy of delivering the products and banking experience that our customers want and we continue to invest heavily in digital technology, new banking services and infrastructure to deliver on those needs.
"Despite a more challenging operating environment in the UAE, we have seen continued growth in our customer numbers, and the strength of our balance sheet and our liquidity position will enable us to continue investing in our product capabilities and support the financial needs of our clients."
