Sunday 18 March 2018

Abu Dhabi banks post $8.4bn earnings in 2017

ABU DHABI, 4 days ago

The total earnings of commercial and Islamic banks in Abu Dhabi, UAE surged to Dh30.83 billion ($8.4 billion) in 2017, said a media report.

The total earnings of commercial banks headquartered in the capital reached Dh25.53 billion by the end of 2017, accounting for 82.8 per cent of the total earnings accrued, with Islamic banks posting 17.2 per cent thereof, reported Emirates news agency Wam, citing figures released by the Statistics Centre-Abu Dhabi.

The purpose of these indices of figures is to identify the characteristics of banking activities in the emirate and present the necessary information in order to support the development of the banking and investment sectors in the capital.

According to the figures, the 4th quarter of 2017 witnessed the highest performance, with net earnings totalling Dh7.815 billion, a growth of 1.25 per cent from Dh7.725 billion in Q3.

During Q2, the total earnings of Abu Dhabi banks amounted to Dh7.60 billion against Dh7.67 in Q1.

The statistics showed that the average compensation of employees per worker reached around Dh41,681 in 2017 against Dh41,459 in 2016.

Tags: Abu Dhabi banks |

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