Record provisions drag UAE's ADCB to Q4 loss

* username: rupertbu

Record provisions dragged Abu Dhabi Commercial Bank ADCB.AD (ADCB) to a much wider fourth quarter loss than expected, highlighting the scale of the debt crisis among the regional companies to which it is exposed.

Abu Dhabi's third largest bank by market value posted a fourth quarter loss of 1.2 billion dirhams ($326.7 million) after booking impairments of 2 billion dirhams in the last period alone. Overall in 2009 it booked provisions of 3.86 billion dirhams.

ADCB and Emirates NBD, the Gulf state's largest bank by assets, are the only United Arab Emirates banks negotiating with indebted state conglomerate Dubai World [DBWLD.UL], which is grappling to restructure about $22 billion in debt.