ABU DHABI: Abu Dhabi Commercial Bank PJSC (ADCB) has announced a 30 percent increase in profit before tax for the first nine months of 2024, reaching AED7.702 billion. The bank's net profit after tax was AED6.846 billion, reflecting strong financial performance across its operations. According to Emirates News Agency, ADCB attributes its robust financial results to a strategic plan focused on expanding its market share, particularly in corporate banking and investment services, as well as strengthening its retail customer base. The bank experienced significant growth in loans, fee and commission income, and reported improvements in operational efficiency and credit quality. As of the end of September 2024, ADCB's total assets increased by 19 percent to AED639 billion, with net loans and advances to customers rising by 21 percent to AED344 billion. Customer deposits in current and savings accounts reached AED169 billion. The bank reported a capital adequacy ratio of 16.68 percent and a common equity tier 1 (CET1) ratio of 13.11 percent. Its liquidity coverage ratio was 136.3 percent, and the loan-to-deposit ratio stood at 84.6 percent. Notably, the cost of risk improved to 0.42 percent in the third quarter of 2024, down from 0.73 percent in the same period of the previous year, with the cost of risk for the first nine months of 2024 at 0.52 percent. ADCB's performance highlights its strategic emphasis on digital transformation and the adoption of AI-driven efficiencies to boost profitability and facilitate growth in key sectors.