Abu Dhabi Commercial Bank’s first quarter earnings drop, shares plunge | ZAWYA MENA Edition:
Abu Dhabi Commercial Bank reported a drop in first quarter (Q1) net profit for 2019, triggering a retreat in the company’s shares.
The bank reported a net profit of 1.15 billion United Arab Emirates dirhams ($313.08 million) for Q1 2019, compared to 1.21 billion dirhams in Q1 2018, a 4.96 percent drop.
Net interest and Islamic financing income amounted to 1.71 billion dirhams in Q1 2019, compared to 1.83 billion dirhams in Q1 2018, a 6.56 percent drop.
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