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ABU DHABI ISLAMIC BANK WITNESSES INCOME GROWTH
Info-Prod Research (Middle East), April, 2004
According to Al-Sharq Al-Awsat newspaper (April 21, 2004), the Chairman of the Board of the Abu Dhabi Islamic Bank (ADIB), Obaid bin Saif Al Nasseri, said that (ADIB) had recorded a net profit of Dh 101 million in 2003, registering an increase of 33% over the previous year. The chairman added that total assets of the bank as at December 31, 2003, reached Dh 9.2 billion compared to Dh 7.8 billion in 2002, an increase of Dh 1.4 billion (18%).
The Abu Dhabi Islamic Bank was established on 20th May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18th April 1999. All...
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