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United Securities Keeps Abu Dhabi Islamic Bank at Buy After Q2 Net Income Beat

MT Newswires·08/03/2026 07:03:11
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07:03 AM EDT, 08/03/2026 (MT Newswires) -- United Securities LLC maintained its investment rating and price target on Abu Dhabi Islamic Bank (ADX:ADIB) after the lender published its second-quarter results, according to a Sunday result update note. Thanks to lower impairment charges, the bank's net income in the second quarter rose 8.4% annually to 1.9 billion Emirati dirhams, which exceeded United Securities' estimates by 19%. The lender's 3.3 billion-dirham operating income, on the other hand, missed the research firm's forecast by 6%. "ADIB continues to deliver the strongest financing growth in the UAE banking sector, prompting management to raise its 2026 financing growth guidance to 18%- 20%. However, this was accompanied by a downward revision to the upper end of NIM guidance by 20bps, reflecting continued margin pressure. We remain positive on the bank's medium-term outlook, supported by strong balance sheet growth, improving asset quality, and disciplined cost management. Accordingly, we maintain our BUY rating and target price of AED 24.5 per share," analysts wrote.