ADIB has become the first bank in the UAE to be licensed as an Open Finance Provider under the Central Bank's AlTareq regulation, marking a significant milestone in the country's fintech landscape. This development is particularly notable as it allows ADIB to aggregate customer-permissioned account data from other banks and present it in a unified platform, a capability that was previously largely limited to fintech companies.

The bank's nine-month results show a 6 per cent increase in profit after tax, reaching AED 5.6 billion, with revenue growing 6 per cent year on year to AED 9.7 billion. This growth is attributed to an expansion in financing volumes across both retail and wholesale banking, as well as an increase in net fee and commission income, which rose 11 per cent in the third quarter to AED 591 million.

ADIB's customer base has grown by over 200,000 in nine months, driven by the bank's strategic initiatives, including the launch of ADIB Arrive, a proposition designed for customers relocating to the UAE, which offers pre-arrival onboarding, salary-transfer rewards, and preferential banking benefits. The bank has also introduced co-branded cards with Marriott Bonvoy and Aldar, further enhancing its product offerings.

In terms of its balance sheet, ADIB's total assets have increased 18 per cent to AED 318 billion, with gross customer financing rising 25 per cent year on year to AED 218 billion. The bank's CASA ratio remains high, with current and savings accounts accounting for 60 per cent of customer deposits, which have grown 17 per cent to AED 259 billion.

The bank has also made significant investments in technology, including the appointment of a dedicated Chief AI Officer, who will be responsible for expanding the use of artificial intelligence across various aspects of the bank's operations, including customer experience, internal processes, and risk management.

ADIB's physical distribution network has been redesigned, with the opening of an AI-enabled digital branch in Al Ain, which combines self-service terminals, digital kiosks, and smart teller machines with in-person support, providing customers with a seamless and convenient banking experience. The bank has also launched a universal branch at Dubai Hills Mall, further expanding its physical presence in the UAE.

According to Chairman H.E. Jawaan Awaidah Al Khaili, the bank's continued growth reflects the strength of its franchise and the trust of its customers, with strong financing momentum, an expanding customer base, and robust asset quality positioning the bank well for the next phase of growth under its Vision 2035 strategy. Group Chief Executive Officer Mohamed Abdelbary pointed to the broad-based nature of the bank's growth, with strong profitability, continued customer and financing growth, and robust asset quality.

The bank's open finance licence is a significant development, as it allows ADIB to act as a data consumer, rather than just a data provider, and build the customer interface of the future. With its strong balance sheet, robust asset quality, and growing customer base, ADIB is well-positioned to sustain its momentum and achieve its long-term goals.

In conclusion, ADIB's nine-month results demonstrate the bank's commitment to growth, innovation, and customer satisfaction. With its Open Finance Provider licence, expanded product offerings, and investments in technology, ADIB is poised to remain a leading player in the UAE's banking sector, and its Vision 2035 strategy is expected to drive further growth and expansion in the coming years.