Abu Dhabi Commercial posts profit of $179m.DUBAI: 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 its second-biggest quarterly profit ever in the second quarter as it boosted lending during an economic boom and more than tripled its income from currency trading. Abu Dhabi's third-biggest bank by market value said second-quarter profit jumped 34 per cent to 655.4 million UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. dirhams ($178.5m), topping the 574.9m dirhams average forecast in a Reuters survey last month. The bank, which did not immediately release quarterly net interest income, said total loans and advances jumped 34pc in the first half to 91 billion dirhams. Gulf banks have grown rapidly as economies in the world's biggest oil-exporting region surge on a near seven-fold increase in oil prices since 2002, giving banks massive financing opportunities in corporate and retail banking. ADCB's quarter profit was also boosted by a 227pc jump in income from trading in foreign exchange and derivatives, the lender said. Fee income advanced 45pc while total operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. grew 45pc. Global investors have piled into dollar-pegged Gulf currencies this year, including the UAE dirham, on bets the oil producers may sever their links to the ailing dollar. The regional economic boom has also driven liquidity on Gulf stock markets, giving banks more access to brokerage and investment banking income. Total assets for the first six months of the year rose 33.5pc to 128bn dirhams compared with the same period last year. The bank's shares rose 1.2pc yesterday to 5.02 dirhams - nearly 15pc below NBK NBK National Bank of Kuwait NBK Naval Base Kitsap (Washington) NBK Natural Born Killer(s) NBK Never Been Kissed NBK Nabeya Bi-Tech Kaisha NBK Norsk Brettseiler Klubb (Norway) Capital's 5.9-dirham price target and more than 44pc below Citigroup's nine-dirham target. The earnings were released after trading hours. Copyright A[umlaut umlaut (  m`lout) [Ger.,=transformed sound], in inflection, variation of vowels of the type of English man to men. ] 2008 Gulf Daily News
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