Abu Dhabi banks’ profits soar on loan growth and fee incomes | GulfNews.com:
"Three leading Abu Dhabi banks led by National Bank of Abu Dhabi (NBAD) on Tuesday showed strong growth in profits supported by rising interest and non-interest incomes and consistently declining non-performing loans (NPLs).
All three institutions, NBAD, Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) reported significant balance sheet growth with consistent pick up in lending and deposits growth underlined by robust improvement in asset quality matrixes.
NBAD reported a net profit of Dh2.82billion, up 7.9 per cent for the first half of the year as its second quarter profit surged 17.5 per cent to Dh1.424 billion year on year. Bank’s total assets were up 6.7 per cent year-over-year. Net loans and advances increased 4.8 per cent year-over-year and 1.8 per cent sequentially."
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