Abu Dhabi Commercial Bank profits dip on provisions - The National

Abu Dhabi Commercial Bank profits dip on provisions - The National:

"Abu Dhabi Commercial Bank (ADCB), the UAE's third largest lender, said yesterday that its second -quarter net profit dipped 10.3 per cent, missing analyst forecasts, as money set aside to cover bad debt grew and non-interest income plummeted. Net profit in the three months ended June 30 reached Dh1 billion compared with Dh1.12bn a year earlier, the bank said. Total net interest and Islamic financing income rose 10 per cent year-on-year to Dh1.67bn but non-interest income declined 30 per cent to Dh434 million. Four analysts polled by Bloomberg had forecast an average net profit of Dh1.11bn."



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