Abu Dhabi Commercial Bank (ADCB) continues to get investors back on its side after addressing a combination of issues that had depressed its share price.
Yesterday, shares in the country's third-biggest bank by assets rose to their highest level in more than two years after ADCB said it would make a profit of about Dh1 billion from the sale of its 24.9 per cent stake in RHB Capital, Malaysia's fifth-largest lender.
The sale of the stake to Aabar Investments, owned by the Abu Dhabi Government, has offered some assurance to investors that it will have a big enough cash buffer to sustain any economic difficulties.
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