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Tuesday, 31 January 2017

UPDATE 1-Abu Dhabi Commercial Bank Q4 profit drops 16 pct on impairments | Reuters

UPDATE 1-Abu Dhabi Commercial Bank Q4 profit drops 16 pct on impairments | Reuters:

"Abu Dhabi Commercial Bank on Tuesday posted a 16 percent drop in fourth-quarter profit, in line with analysts' forecasts, as impairments for doubtful loans weighed on its bottom line.

The emirate's second-largest bank by assets made a net profit attributable to shareholders of 1.0 billion dirhams ($272 million) in the three months to Dec. 31, compared to 1.19 billion dirhams in the same period a year ago.

Three analysts polled by Reuters had on average forecast a net profit of 979 million dirhams."



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