Abu Dhabi-based banks secure AED7.6 billion of net income in Q2

ABU DHABI — The net income of commercial and Islamic banks in the Emirate of Abu Dhabi amounted to AED7.6 billion during Q2 2017, with commercial banks’ accounting for 83.1 percent of the net income of all banks operating in the Emirate. The remaining 16.9 percent is claimed by Islamic banks, according to the Statistics Centre- Abu Dhabi.

The rise in total revenues of commercial banks during the first quarter of the year has been attributed by the report to a 20.5 percent increase in other income streams, and a 14.2 hike in investment revenues against Q2 2016. The report indicated a slight decline of 3.6 percent in the net interest income.

The number of employees by the end of the second quarter reached 12.1 thousands across all commercial and Islamic banks, said the report, noting that the total benefits obtained by the employees fell by 5.0 percent against the corresponding period in 2016, including salaries, financial remunerations, and other perks.

Source: Emirates News Agency