Friday 27 January 2012

Abu Dhabi Commercial Bank readies for a payout - The National

Abu Dhabi Commercial Bank (ADCB) readied its first payout to shareholders in three years as its problems with bad debts eased last year.

The move came as signs emerge that the banking sector is starting to free itself from the debt crisis of the past few years.

The capital's second-biggest lender reported profits for the full year of Dh3 billion (US$816.7 million), up from Dh381m in 2010 and more than Dh1bn above analysts' estimates.

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