FINANCIAL NEWS

Abu Dhabi’s banks to post USD2.45bln income in Q2

06 Sep 2017

(MENAFN) Abu Dhabi’s commercial banks had reported its net income at Dh9bln (USD2.45bln) during the second quarter in 2017, which marks growth by 4.1% from Dh8.64bln.

The Emirates official news agency stated in its reports that net interest income amounted to Dh5.268 billion during the mentioned period, which accounts for 58.5% of commercial banks’ net income in the country.

Manal Al Shanti, a banking expert said: “The growth recorded in bank income reflects the resilience of the banking sector as compared to other GCC states despite the global economic slowdown.”

However, investments of commercial banks grew 14.2% from Dh920mln in Q1 2016 to Dh1.051bln by the end of the second quarter in 2017.

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MENAFN0609201700450000ID1095824207

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