Stock Analysis
- United Arab Emirates
- /
- Banks
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- ADX:ADIB
Abu Dhabi Islamic Bank PJSC First Quarter 2024 Earnings: Beats Expectations
Abu Dhabi Islamic Bank PJSC (ADX:ADIB) First Quarter 2024 Results
Key Financial Results
- Revenue: د.إ2.41b (up 27% from 1Q 2023).
- Net income: د.إ1.36b (up 41% from 1Q 2023).
- Profit margin: 56% (up from 51% in 1Q 2023). The increase in margin was driven by higher revenue.
- EPS: د.إ0.35 (up from د.إ0.26 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Abu Dhabi Islamic Bank PJSC Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 20%.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Banks industry in United Arab Emirates.
Performance of the Emirian Banks industry.
The company's shares are up 1.3% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Abu Dhabi Islamic Bank PJSC that you should be aware of.
Valuation is complex, but we're helping make it simple.
Find out whether Abu Dhabi Islamic Bank PJSC is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About ADX:ADIB
Abu Dhabi Islamic Bank PJSC
Abu Dhabi Islamic Bank PJSC provides banking, financing, and investing services in the United Arab Emirates and internationally.
Proven track record with adequate balance sheet and pays a dividend.