Abu Dhabi Commercial Bank Q2 profit up 12% | ZAWYA MENA Edition

Abu Dhabi Commercial Bank Q2 profit up 12% | ZAWYA MENA Edition:

Abu Dhabi Commercial Bank on Thursday reported a 12 percent rise in second-quarter net profit, due to higher net interest, increased Islamic financing and non-interest income.

ADCB made a net profit of 1.13 billion dirhams ($307.7 million) in the three months ending June 30, up from 1.01 billion dirhams in the same period of last year, it said in a statement. SICO Bahrain had forecast ADCB would make a second quarter profit of 1.12 billion dirhams

It is the second major Abu Dhabi bank to report earnings after First Abu Dhabi Bank, which earlier this week posted a 19 percent rise in second-quarter profit.