Net earnings of Abu Dhabi’s banks up 12% to Dh8bn in Q1

By Angel Chan

ABU DHABI 30 May 2019: Total net interest earnings operating in the Emirate of Abu Dhabi grew to Dh8 billion in Q1-2019, a growth of 12 per cent on year, figures by the Statistics Centre-Abu Dhabi, have showed.

The increase in total revenues of the UAE capital’s Sharia-compliant and conventional banks is reflective of the continuing momentum recorded on the sector, considered a key driver of national economy, the SCAD told Wam.

In more detail, net interest income of commercial banks hit Dh6.7bn, accounting for 83 per cent of the sector’s total earnings, with the Islamic banks’ standing at Dh1.3bn.

The employee population in all Abu Dhabi-based banks stood at 11,871, with the average compensation per employee rising 5.7 percent to Dh43,411 in Q1-2019 from Dh41,057 in the comparable period of 2018.

Dubai Gazette