ADIB profits jump 33pc

ABU DHABI - Abu Dhabi Islamic Bank announced on Wednesday net profit of Dh100.56 million ($27.40 million) for 2003, some 33 per cent up on the previous year.

By (AFP)

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Published: Thu 5 Feb 2004, 11:46 AM

Last updated: Thu 2 Apr 2015, 11:50 AM

The bank, which earned net profit of Dh75.62 million ($20.60 million) in 2002, or six percent below the 2001 figure, said in a financial statement that total assets rose 18 per cent to Dh9.2 billion ($2.5 billion) last year.

Net revenue reached Dh226.30 million ($61.66 million) against 187.33 million ($51.04 million) in 2002.

Earnings per share moved up to Dh1.0056 as compared to 0.7563 in 2002.

Capitalised at Dh1 billion, Abu Dhabi Islamic Bank's core business is retail, corporate, investment and treasury business. It has 13 branches in the United Arab Emirates and has an equity of six million dollars in Bosnia Bank International.

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