According to Amac News: In the report of Abu Dhabi Commercial Bank, it is stated that the net profit of this bank shows a 30% increase.
The announcement stated that the profit before tax during the first 9 months of the year had reached 7.702 billion dirhams, and the net profit of the bank after tax deduction was 6.846 billion dirhams.
The total assets of the bank reached 639 billion dirhams by the end of September 2024 with a 19% growth, and net loans and advances to customers reached 344 billion dirhams with an increase of 21%, and customer deposits in current and savings accounts by the end of September 2024 reached 169 billion dirhams.
ADCB reported a capital adequacy ratio of 16.68%. The ratio of the first row of common shares was 13.11%, its liquidity coverage ratio was 136.3% and the loan-to-deposit ratio was 84.6%.
The cost of risk improved significantly to 0.42% in the third quarter of 2024, down from 0.73% in the same period last year, while the cost of risk for the first nine months of 2024 stood at 0.52%.