First Abu Dhabi Bank’s profits grew during the second quarter of 2022 by about 1% compared to the same quarter of last year, to reach 2.9 billion dirhams.
Despite the increase in the bank’s net interest income during the comparison period by 21% and recording non-recurring profits of 288 million dirhams, the item of net fees and currencies decreased by almost 9%, in addition to a decrease in the profits of investments and derivatives by 54%.
As for the provisions, the data showed an improvement in it, as it declined in the second quarter by 14% on an annual basis.
At the level of the first half of this year, the bank’s net profit increased by 50% to reach 8 billion dirhams.
The bank achieved exceptional profits of 3 billion dirhams from the sale of the bank’s controlling 60% stake in its subsidiary “Magnati”.
When excluding these non-recurring profits, the net profits during the same period recorded a decline of 8%.