Abu Dhabi, United Arab Emirates — Abu Dhabi Islamic Bank (ADIB) earned approximately $1.74 billion (AED 6.4 billion) before tax in the nine months to September 30, a 6% rise on 2025, as its financing book expanded by a quarter and more than 200,000 new customers opened accounts.
The figures come from the bank's management discussion and analysis for the period, released on October 27. After tax, profit reached about $1.53 billion (AED 5.6 billion), also 6% higher than the roughly $1.44 billion (AED 5.3 billion) booked a year earlier, and earnings per share rose 5% to approximately $0.38 (AED 1.38) from about $0.36 (AED 1.31).
Total revenue for the nine months came to roughly $2.64 billion (AED 9.7 billion), up 6% from about $2.48 billion (AED 9.1 billion). According to ADIB, the increase came from a larger financing book, strong deposit inflows, new customers and heavier business volumes in its main segments.
Funded income, the Islamic banking equivalent of net interest income, did most of the work. It climbed 11% to approximately $1.66 billion (AED 6.1 billion) on growth in both retail and wholesale financing. The net profit margin narrowed to 3.64% from 4.17%, a fall of 54 basis points, which the bank attributed to disciplined pricing and balance sheet management. Volume growth more than offset the thinner margin this year, but a further squeeze could weigh on income if financing growth slows.
Costs rose faster than revenue. Operating expenses grew 9% to roughly $762 million (AED 2.8 billion) as ADIB kept spending on staff, technology and strategic projects, and the cost-to-income ratio moved up to 29.1% from 28.3%. The tax charge increased 12% to about $224 million (AED 824 million).
Credit costs moved the other way. Impairment charges dropped 12% to approximately $123 million (AED 451 million), and the cost of risk fell to 30 basis points from 46 basis points, which ADIB said is within its risk appetite and reflects careful underwriting.
Non-performing financing shrank to about $1.2 billion (AED 4.4 billion) from roughly $1.55 billion (AED 5.7 billion) twelve months earlier, a 22% decline the bank linked to a better-quality portfolio and the clean-up of older problem exposures. That took the non-performing asset ratio to 2.0% from 3.3%, which ADIB called a record low.
On the balance sheet, total assets reached approximately $86.6 billion (AED 318 billion) at the end of September, 18% more than a year earlier and 13% above the level at the end of 2025. Over the third quarter alone, assets grew 5% from roughly $82.8 billion (AED 303.9 billion) at the end of June. The bank said most of the increase came from net customer financing.
Gross customer financing grew 25% to about $59.4 billion (AED 218 billion), adding approximately $11.7 billion (AED 43 billion) over 12 months and about $9 billion (AED 33 billion), or 18%, since January. Net of provisions, the financing book stood at roughly $58.4 billion (AED 214.5 billion), up 26% on the year and 4% on the end of June. ADIB said that pace is comfortably above its guidance for the full year. Retail customers account for half of the portfolio, government-related entities (GREs) for 26% and large corporates for 14%.
Retail financing rose 21% to roughly $29.7 billion (AED 109 billion), up about $4.1 billion (AED 15 billion) or 15% so far this year, which the bank put down to customer demand, market share gains and growth in its main retail products. Wholesale banking financing expanded faster, by 29% to about $23.4 billion (AED 86 billion), an increase of roughly $5.2 billion (AED 19 billion) over the year and approximately $3.8 billion (AED 14 billion), or 20%, since December, which the bank said included some of the UAE's larger deals.
Deposits kept pace. Customer deposits rose 17% to about $70.5 billion (AED 259 billion), adding about $8.2 billion (AED 30 billion), or 13%, since the start of the year, and 5% since June, when deposits stood at about $66.9 billion (AED 245.7 billion). Current and savings account (CASA) balances grew 2% to roughly $42.2 billion (AED 155 billion), equal to 60% of deposits, which the bank describes as one of the highest CASA ratios among UAE lenders.
Liquidity measures remain above the levels set by the Central Bank of the UAE, according to ADIB. The advances to stable funding ratio was 86.9%, up from 81.6%. The bank's narrative gives the eligible liquid asset ratio as 15.5%, while its key metrics table shows 15.0%, down from 17.7%.
Rapid balance sheet growth has absorbed capital. Total equity increased 11% to about $9.2 billion (AED 33.8 billion) from roughly $8.3 billion (AED 30.5 billion), but risk-weighted assets grew 15% to approximately $57.4 billion (AED 210,883 million). The common equity tier 1 (CET1) ratio stood at 12.4% at the end of September, compared with 13.0% a year earlier, while the tier 1 ratio slipped to 14.7% from 15.6% and the capital adequacy ratio to 15.6% from 16.7%. ADIB said both CET1 and total capital remain well clear of regulatory minimums.
That trend could help explain the timing of the bank's planned capital raise. ADIB said its rights issue of approximately $477 million (AED 1.75 billion) will add to its capital base and give it room to keep growing under its Vision 2035 strategy. If financing continues to expand faster than retained earnings, fresh equity may be what allows the lender to sustain that pace without further pressure on its ratios.
H.E. Jawaan Awaidah Al Khaili, Chairman of ADIB, said: “ADIB’s continued growth reflects the strength of our franchise and the trust of our customers, with strong financing momentum, an expanding customer base and strong asset quality positioning the Bank well for the next phase of growth under Vision 2035.”
Mohamed Abdelbary, Group Chief Executive Officer of ADIB, added: “Our performance reflects the broad-based growth across ADIB, with strong profitability, continued customer and financing growth, and robust asset quality. Supported by the strength of our franchise and a healthy pipeline across retail and wholesale banking, we are well positioned to sustain this momentum as we execute Vision 2035.”
Alongside the numbers, ADIB listed the steps it took during the period under Vision 2035. Earlier this year it became the first UAE bank licensed as an open finance provider under the AlTareq initiative. The third-party provider license lets ADIB pull account data that customers have agreed to share from other banks and show it inside a single ADIB view of their finances.
On the cards side, ADIB launched Marriott Bonvoy ADIB Visa Infinite and Signature cards, which earn Marriott Bonvoy points on eligible everyday purchases that can be redeemed across the hotel group's global portfolio. With developer Aldar, it introduced the ADIB Aldar Visa Infinite and Platinum Covered Cards, which collect Darna Points and offer rewards across Aldar's residential communities, schools, retail, hospitality and leisure assets, managed through the LIVE Aldar app.
In sustainable finance, ADIB had mobilized and facilitated approximately $6.34 billion (AED 23.3 billion) by September, up from about $5.53 billion (AED 20.3 billion) at the end of 2025. Its target is approximately $16.3 billion (AED 60 billion) by 2030, which leaves about $10 billion (AED 36.7 billion) still to be arranged by 2030. The bank said it structured and joined sustainable deals in the UAE and the wider region, including project financing for renewable energy plants, sustainability-linked facilities for financial institutions and sustainable sukuk issues for banks and corporates seeking Sharia-compliant funding.
