ADIB Achieves 18% Year-on-Year Growth In Q1 Net Profit Before Tax To AED 1.9 Billion

Abu Dhabi Islamic Bank (ADIB) reported a net profit before tax of AED 1.9 billion for the first quarter of 2025, marking an 18% increase from the same period in 2024. This growth highlights a robust balance sheet and increased business momentum, alongside sustained customer growth.

The bank's revenue for Q1 2025 rose by 14% to AED 2.9 billion, compared to AED 2.5 billion in Q1 2024. This improvement was driven by strong performance across all key segments, supported by higher income from financing activities and non-funding sources.

Total assets reached AED 244 billion, reflecting a 25% year-on-year increase. This expansion was attributed to growth in both retail and corporate banking financing, as well as an enlarged investment portfolio. Customer financing grew by 28%, adding AED 33 billion compared to the previous year and AED 8 billion year-to-date.

Customer deposits also saw a significant rise, increasing by 25% year-on-year to AED 200 billion from AED 160 billion in Q1 2024. The funding mix remained healthy with a notable growth of 12% in Current and Savings Accounts (CASA), which now make up 69% of total deposits.

E Jawaan Awaidah Al Khaili, Chairman of ADIB, commented: "We started the year with a strong performance, continuing the positive trajectory built over previous quarters. Our results are a clear reflection of our ability to grow profitably and execute our strategy with discipline." He further noted that this exceptional performance was supported by strong revenue growth across all segments, improved cost efficiency, and the best asset quality metrics observed so far.

The bank's net profit after tax for Q1 2025 stood at AED 1.7 billion, showing an increase of 18% compared to Q1 2024. This reflects significant growth and reinforces the positive trend established over recent quarters.

Strong business volumes and continued strength in fee-based businesses contributed significantly to these improvements. The bank's ability to close landmark deals in wholesale banking also played a crucial role in its success.

ADIB's outstanding performance underscores its strategic execution capabilities and profitable growth potential across various segments.

With inputs from WAM