Abu Dhabi Commercial Bank Q4 net profit rises 16 pct

Abu Dhabi Commercial Bank (ADCB) on Sunday posted a 16 percent rise in fourth-quarter net profit.

The emirate's third largest bank by assets made a net profit attributable to shareholders of 1.19 billion dirhams ($324 million) in the three months to Dec. 31, compared to 1.02 billion dirhams in the corresponding period of the previous year, it said in a bourse statement.

Two analysts polled by Reuters had forecast net profit for the quarter of 986 million dirhams and 1.12 billion dirhams respectively.

The bank also proposed paying a cash dividend of 0.45 dirhams per share for 2015. This is higher than the 0.40 dirhams it paid for 2014.

ADCB made a 2015 net profit of 4.92 billion dirhams, up 22 percent on 2014, it said in a statement.

Related:

Market Performance

Abu Dhabi Commercial Bank
6.67
0.19 2.93 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Statistics fog raises risk as cheap oil hits Gulf

Statistics fog raises risk as cheap oil hits Gulf

Sharp revision of economic data in Saudi Arabia suggests its...

Why banking in the Gulf will never be the same again

Why banking in the Gulf will never be the same again

New technologies are emerging in banking and finance at a rapid...

Most Discussed
sponsoredTracking