Abu Dhabi: Abu Dhabi Islamic Bank reported a Q1 2025 net profit before tax of AED 1.9 billion, rising 18% year-on-year, reflecting a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth.
According to Emirates News Agency, Q1 2025 net profit before tax increased 18% compared to Q4 2024, reflecting significant growth and reinforcing the positive trajectory built over recent quarters. Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18% increase compared to Q1 2024.
Revenue for Q1 2025 improved by 14% to AED 2.9 billion compared to AED 2.5 billion for Q1 2024. This growth reflects performance across all key segments, supported by an increase in both income from financing activities and non-funding income. Strong business volumes and continued strength in fee-based businesses contributed to this improvement.
Total assets increased by 25% year-on-year to reach AED 244 billion, driven by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio.
Customer financing grew by 28% year-on-year, representing AED 33 billion increase compared to last year and AED 8 billion increase year to date, indicating market share gains across key segments and wholesale banking closing landmark deals.
Customer deposits rose by 25% year-on-year to AED 200 billion, compared with AED 160 billion at Q1 2024. This growth maintained a healthy funding mix, with a 12% year-on-year growth in Current and Savings Accounts (CASA), which now comprise 69% of total deposits.
Jawaan Awaidah Al Khaili, Chairman of ADIB, stated, ”We started the year with a strong performance, continuing the trajectory built over previous quarters. Our results reflect our ability to grow profitably and execute our strategy with discipline.” He added that this performance was supported by revenue growth across all segments, improved cost efficiency, and the best asset quality metrics to date.