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ADIB 2017 Net Profit rises 17.7% to AED 2.3 billion
Abu Dhabi: – Abu Dhabi Islamic Bank (ADIB) today reported a record net profit of AED 2.3 billion for the year ended 31st December 2017, up 17.7% from 2016, driven by higher income from fees, foreign exchange, investments and reduction in cost of credit. Revenue increased by 4.6% to AED 5.6 billion, while the bank also benefited from lower credit provisions and impairments in 2017 decreasing by 18.5% from a year earlier.
The Board of Directors has recommended the distribution of 28.87% cash dividend for 2017. The cash dividends represent 39.76% of full year net profit for 2017.
Read the full report here.
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For media information, please visit www.adib.ae or contact:
Lamia Hariz
Head of Corporate Communications
ADIB
Tel: +971 561623535
Email: lamia.hariz@adib.com