Abu Dhabi Islamic Bank (ADIB) posted a net profit of Dhs307.3m for Q1 2012. Despite the continued challenging market conditions, and an increasing number of regulations, the performance from the main banking business remained strong as the Bank’s net profit grew by 5.8% to Dhs360.4m from Dhs340.6m for Q1 2011.
Both the Retail and Wholesale Banking unit’s growth in market share was underpinned by ADIB’s ranking as the number one customer service bank in the UAE, a continuously improving network, a broadening product offering and a best practice approach to risk management. As a result customer numbers increased by 9.0% to 466,244, the 71st branch in the UAE opened, the ATM network reached 488 and the wealth management, transaction banking, treasury and investment banking solutions gained further momentum. (Press Release)