The auction oversubscribed 6.2 times as investors repose trust in the Treasury Bonds programme
The auction oversubscribed 6.2 times as investors repose trust in the Treasury Bonds programme
The lender also recorded 13 per cent increase in total assets as it amounted to Dh498 billion as at December 31, 2022 while total customer deposits rose 17 per cent to Dh309 billion
The bank reported a 12.1 per cent increase in customer deposits to Dh 113.8 billion as its liquid assets ratio stood at 33.2 per cent as of December 2022 compared to 29 per cent in December 2021 when the lender swung to a Dh1 billion net profit
The Abu Dhabi-based Islamic lender also reported the highest quarterly net profit of Dh1.2 billion in fourth quarter of 2022 versus Dh728 million in the same quarter of 2021, marking a 60 per cent growth versus the same period last year
The Abu Dhabi-based group subscribed to 16 per cent of Adani Enterprises $2.5 billion further public offering (FPO); The company will continue to explore business opportunities in Europe, Africa, Asia, and South America in 2023
In the pursuit of net zero goals and the transition to a clean energy future, new forms of capital and exchange are emerging to fund climate action, reinforcing the pivotal role of the finance industry in influencing sustainable outcomes
The bank’s fourth-quarter net profit dropped to Dh2.5 billion from Dh 2.9 million in Q3’22, reflecting prudent provisioning and conservative asset valuations
The bank’s total assets increased by 15 per cent to Dh75 billion while customer financing rose by 14 per cent to Dh48.4 billion
The fourth-quarter profits soared 94 per cent to Dh3.9 billion year-on-year basis, reflecting improving margins and a lower cost of risk
The bank also reports an increase in operating profits by 17.4 per cent, reaching Dh998.3 million in 2022 as against Dh850.7 million in the previous year