Abu Dhabi Commercial Bank's (ADCB) second quarter profit topped forecasts on Tuesday thanks partly to steeply lower provisions.
The United Arab Emirates' third biggest lender by market value posted net profit of 733 million dirhams ($199.6 million) for the three months ended June 30, down from 1.3 billion dirhams in the prior-year period.
In the second quarter last year, ADCB booked a $357-million one-time gain on the sale of its 25-percent stake in Malaysia's RHB Capital to Abu Dhabi fund Aabar Investments.
No comments:
Post a Comment