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