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Islamic Finance Briefing - Categorized | Banking, Performance more

Abu Dhabi Commercial Bank reports 44 pct lower net profit

Posted on 24 July 2009

From Gulfnews.com: One of the UAE’s largest banks by market capitalisation, Abu Dhabi Commercial Bank (ADCB) reported on Thursday first half profits of Dh658 million, 44 per cent lower than in the same period last year.

Despite reporting a record Dh1.55 billion in pre-provision profit, ADCB set Dh890 million in provisions, or allowances to cover possible investment losses and loan defaults………..Full Article: Source

 
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