Abu Dhabi banks earned over $8bn in 2017

Q4 saw the best performance, with net earnings of $2.13 billion
Abu Dhabi banks earned over $8bn in 2017
Commercial banks in Abu Dhabi accounted for 82 percent of the total.
By Bernd Debusmann Jr
Wed 14 Mar 2018 12:29 PM

The total earnings of Abu Dhabi’s commercial and Islamic banks rose to AED 30.83 billion ($8.39 billion) in 2017, according to new data from the Statistics Centre, Abu Dhabi.

Of the total, commercial banks in Abu Dhabi accounted for 82 percent, or AED 25.53 billion ($6.89 billion), while Islamic banks accounted for 17.2 percent.

According to the figures, the fourth quarter of 2017 saw the highest performance, with net earnings of AED 7.815 billion ($2.13 billion), a 1.25 percent increase from the AED 7.725 billion ($2.1 billion) seen in the third quarter the year.

In the second quarter of 2017, earnings amounted to AED 7.6 billion (2.07 billion), compared to 7.67 billion in Q1 ($2.09 billion).

The statistics also show that the average compensation of workers was approximately AED 41,681 ($11,348), compared to AED 41,459 ($11,287) in 2016.

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