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00:00And in light of the continuation of the results of the companies' work, and above all, the
00:05results of the banking sector in the region, we are talking about the Abu Dhabi Islamic
00:12Bank, which also achieves the results of the first quarter of the current year.
00:17How were the net profits of the bank, which grew by 38%?
00:23Here we are talking about the results and profits before the tax on the bank, which
00:28exceeded 1,550,000,000 dirhams in this quarter, if we compare it to the first quarter of
00:342023.
00:35This is when it comes to net profits in the first quarter before the tax, but the profits
00:40after the tax were also achieved by the bank by more than 28%, and it came higher than
00:47the expectations that indicated that it could grow by a billion or profits by 1,200,000,000
00:53dirhams, but we exceeded 1,350,000,000 dirhams in terms of profits for the bank during
01:00the first quarter of this year.
01:03On the other hand, there was clear support from the increase in operating wills for the
01:07growth of profits, which grew by 33%, which also exceeds this time in a large way the
01:13operating wills that were achieved in the first quarter of last year, 3,500,000,000 dirhams
01:21in the first quarter of this year.
01:26We are still talking about the direction of banks in the region to get rid of specialties
01:32and that fear that was related to some crises that the banks were taking to cover the
01:39affected loans, but this time we are moving towards some opening and release of these
01:46specialties and reducing them for banks.
01:49Even Abu Dhabi, or the Islamic Bank, which reduced these specialties by 25% from 146,000,000
01:58dirhams in the quarter similar to last year, to less than 110,000,000 dirhams throughout
02:05the first quarter of this year.
02:07This is what we have seen, the direction is clear for the ease of banks today in reducing
02:12specialties and reducing specialties that were taken in the last short period.
02:16The financial center of the bank, we have seen a growth of 13% or at the level of other
02:22figures that have been achieved by the bank.
02:25We have also seen financing that grew by 9% and in return, which is still growing clearly
02:31in banks.
02:32The deposits, the deposits of the agents that grew by 13% during the last quarter and
02:39the first quarter, which grew to 160,000,000 dirhams as the base of the deposits for the
02:44previous period, in light of the increase and continuation of the interest and the benefit
02:49from the interest rates, which are still high by banks.
02:52These are the positive results achieved by the Islamic Bank of Abu Dhabi during the
02:56first quarter of this year.