ADCB posts 3% decline in Q3 profit
- United Arab Emirates: Saturday, November 03 - 2012 at 02:51
Abu Dhabi Commercial Bank (ADCB) has reported a 3% fall in its third-quarter net profit, as non-interest income fell and bad loan allowances rose slightly, Reuters has reported. The UAE's third largest lender by market capitalisation said it net profit stood at Dhs595m ($162m) in the three months to September 30, down from Dhs613m in the prior-year period. Impairment allowances for the third quarter totalled Dhs529m, up 3% from the same period in 2011. Net profit for nine months to September 30 reached Dhs2.13bn, down 16% from the Dhs2.53bn in the corresponding period of 2011.
- Lebanon's public debt rapidly increasing: Bank...
- Aramco selects L&T for Midyan gas deal
- UK considering issuing visas to Kuwaitis on...
- Omantel launches Samsung Galaxy S4 LTE smartphone
- QNET intends to expand its operations in region...
- HP Enterprise Services signs global agreement...
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.