UPDATE 1-Abu Dhabi Commercial Bank Q3 profit falls 13%, to exit Kuwait, Qatar - Reuters:
Abu Dhabi Commercial Bank on Sunday reported a 13% drop in third quarter profit thanks to lower interest income, and said it would quit foreign operations to focus on its home market.
The bank said it was on track to exit its operations in India after selling most of its banking portfolio there to DCB Bank and had also begun to withdraw from Qatar and Kuwait.
ADCB reported a net profit of 1.41 billion dirhams ($383.93 million) in the three months ending Sept. 30, down from 1.62 billion dirhams during the same period last year, it said in a statement.
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