ADCB Q3 net profit falls 90 percent.Byline: Kipp Summary: Abu Dhabi Commercial Bank Abu Dhabi Commercial Bank, commonly called ADCB, is a bank in the United Arab Emirates. (ADCB ADCB Abu Dhabi Commercial Bank ) posted aC* Abu Dhabi Commercial Bank (ADCB) posted a net profit of AED AED - Automated Engineering Design 44 million ($11.98 million) in the third quarter of the year, a 90 percent drop as compared to the AED447.6 million it made during the same period last year. "The bank continued to set aside provisions to cover any probable loss in its loan portfolio and some investments which had a negative impact on the bank's results for Q3," Eissa Al Suwaidi, chairman of ADCB, said in a statement. 2009 Dubai Dubai (d  bī`), sheikhdom (1995 pop. 674,101), c.1,500 sq mi (3,890 sq km), part of the federation of seven United Arab Emirates, SE Arabia, on the Persian Gulf. Business | Kippreport. All Rights Reserved.
Provided by Syndigate.info an Albawaba.com company |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion