Print Print | Email Email | Discuss this article ( Comments)
| Share |

Abu Dhabi Commercial Bank sees profit fall 23%

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 23 April 2009

Abu Dhabi Commercial Bank posted a 23 percent decline in first-quarter net profit to AED354m ($96.38m) as it booked more provisions.

However, the profit beat two of three analyst forecasts.

Abu Dhabi Commercial earned AED459.89m in the first quarter of 2008.

The bank said provisions in the first quarter amounted to AED277m.


Related: ADIB converts $599m to regulatory capital
Story continues below ↓
advertisement

Analysts' profit forecasts ranged from AED287.13m to 408 million dirhams in a Reuters survey in April. (Reuters)

| Share |
< Previous article
Three desalination plants to be built in Ajman, RAK
Next article >
Shell delays Qatargas4 project by a year


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST BANKING & FINANCE

  1. Dubai's Abraaj eyes property investments
  2. Emirates NBD launches bank’s new brand identity
  3. Dubai replaces head of DIFC
  4. Tamweel, Amlak merger seen in Q1 2010
  5. StanChart to boost Mideast pvt banking business

TOP MIDDLE EAST BUSINESS STORIES

  1. Shell delays Qatargas4 project by a year
  2. 'Worrying' diabetes tests raise doubt on UAE's health
  3. Accor opening two new ibis hotels in region
  4. First UAE arthouse cinema opens in Dubai Mall
  5. Abraaj Capital issue is fully subscribed

ALSO IN MIDDLE EAST BANKING & FINANCE

  1. Abraaj Capital issue is fully subscribed
  2. Dubai's Pharos launches $350m agricultural fund
  3. UAE withdrew from monetary union for 'fundamental reasons'
  4. Emirates NBD has $350m Saudi exposure - chief
  5. The Roubini Vs Rogers debate

LATEST MIDDLE EAST BUSINESS NEWS

  1. Energy: Shell delays Qatargas4 project by a year
  2. Construction & Industry: Abyaar and Lacroix to build Dubai residential tower
  3. Travel & Hospitality: Gulf Air unveils strategy to save $2.65bn over five years
  4. Travel & Hospitality: Accor opening two new ibis hotels in region
  5. Banking & Finance: Abraaj Capital issue is fully subscribed

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

ADCB.ADX

Last Price:

2.25

+0.01+0.46%

23 Nov 2009 09:58 GMT
(Market Closed)

RELATED STORIES

Q1 Profits 2009
3 stories
  1. Mideast airlines post Q1 profit
    1 Jul '09 | News
  2. Gulf Finance House posts $37.7m net loss Q109
    19 May '09 | News
  3. Dubai's Depa expects 40% rise in profit Q109
    13 May '09 | News
Abu Dhabi Commercial Bank
| 84 stories
  1. Transparency pays
    12 Nov '09 | Comment
  2. Al Mal keeps short-term underperform on UAE's ADCB
    27 Oct '09 | News
  3. ADCB announces big slump in Q3 profit
    27 Oct '09 | News

RELATED LINKS

  1. Abu Dhabi Commercial Bank»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Abu Dhabi Commercial Bank

  2. Banking & Finance


CURRENCY CONVERTOR