According to Palestinian prisoner associations, the health worker had been detained by Israeli forces while temporarily working at Al-Awada Hospital
mena1 hour ago
The drop in earnings is attributed to a one off gain, the Abu Dhabi made in the first half of last year when it sold its stake in Malaysia’s RHB Capital Berhad valuing Dh1.314 billion to Aabar Investment, a subsidiary of Abu Dhabi’s International Petroleum Investment Company.
However, the net profit declined nine per cent in a quarter on-quarter comparison.
Net assets of Abu Dhabi’s second biggest lender by assets also fell two per cent to Dh180.797 billion in the second quarter.
Net loans and advances, however, remained flat at Dh123.463 billion in the quarter against Dh123.866 billion in the previous period.Deposits from customers rose one per cent to Dh111.247 billion, in line with industry trend noticed in the period. The total operating income for the first half of the year reached Dh3.353 billion, an increase of 22 per cent year on year.
On a quarterly basis, the total operating income of Dh1.769 million in the second quarter was a record for the Abu Dhabi-based lender and reflected an increase of 24 per cent year on year and 12 per cent over the previous quarter. Total net interest income and Islamic financing income recorded an increase of 34 per cent year on year to Dh1.383 billion. There was 16 per cent rise in a quarter on quarter comparison.
The improving trends increased the net interest margin to 3.52 per cent year on year in the second quarter and 3.02 per cent in Q1, 2012. Non-interest income remained flat at Dh386 million year-on-year and was one per cent lower over the January-March quarter.
However, it fell two per cent in the first half of the year to Dh775 million.The total assets also dipped two per cent to Dh180.797 billion over 31 December 2011, while gross customer loans followed the trend by dropping one per cent to Dh129.549 billion in the period.
Total customer deposits grew marginally by two per cent to Dh111.247 billion as at June 30 compared with December 31, 2011.Loans to deposit ratio was 110.98 per cent as at June 30, 2012, compared to 114.27 per cent as at 31 December 2011.Advances to stable resources ratio was 84 per cent as at June 30, compared to 92 per cent as at 31 December 2011.
The NPL ratio was 4.7 per cent and provision coverage was 86.3 per cent as at 30 June 2012, compared to 4.6 per cent and 80 per cent as at 31 December 2011.
Charges for impairment allowances on loans and advances, net of recoveries amounted to Dh749 million in the first half compared to Dh1.064 billion in the same period a year earlier. The Bank’s capital adequacy ratio was strong at 22.34 per cent as at June 30 though it slipped from 22.51 per cent as at 31 December 2011.
Ala’a Eraiqat, the chief executive officer of ADCB, said: “We have made significant progress during the second quarter of 2012, reporting record revenues and operating profit for the quarter. We remain focused on improving our operational efficiency; in particular our cost to income ratio improved to 30.4 per cent in Q2,2012 compared to 37 per cent in Q2, 2011.” — haseeb@khaleejtimes.com
According to Palestinian prisoner associations, the health worker had been detained by Israeli forces while temporarily working at Al-Awada Hospital
mena1 hour ago
Arfan Bhatti, a 46-year-old Islamist who has lived and is well-known in Norway, is suspected of having planned the attack
world1 hour ago
Alvarez, who will be chasing the 61st victory of his dazzling career, says he has everything he needs to win
sports1 hour ago
The World No 1s quest for a record-breaking eighth world snooker title was shattered by Stuart Bingham in the quarter-finals at Sheffield's Crucible Theatre this week
sports1 hour ago
Substantial investments in major airports will drive tourism and GDP growth
business technology review1 hour ago
The city hosts hundreds of entertainment events yearly, attended by millions of people
uae1 hour ago
Spelling bee contest, storytelling with puppets, book donation drive among activities at 7-day event at Saadiyat Island
uae1 hour ago
The nation is aiming to position itself as a top global tourism destination by 2031
business technology review2 hours ago