From Bloomberg: Abu Dhabi Islamic Bank PJSC, the United Arab Emirates’ second-biggest bank complying with shariah banking rules, posted a 56 percent increase in second-quarter profit as it set aside less money to cover bad loans.
Net income rose to 301.6 million dirhams ($82 million) from 193.4 million dirhams in the year-earlier period, the bank said in an e-mailed statement today. Provisions dropped 21 percent to 134.6 million dirhams. The bank said it may need to take more provisions this year……………………………………….Full Article: Source