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ADCB’s Q2 earnings up 22%

: Wednesday, July 23 - 2014 @ 06:18

Abu Dhabi Commercial Bank (ADCB), the fourth-largest lender by market value in the UAE, has reported a 22% increase in second-quarter net profit on lower impairments, Reuters has reported. The bank made a net attributable profit of Dhs1.06bn ($289m) in the three months to June 30, against Dhs868.5m in the corresponding period last year. The growth attributed to a 54% reduction in the amount the bank set aside for bad loans, with impairments for the second quarter of 2014 set at Dhs233.5m.

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Wednesday, July 23- 2014 @ 6:18 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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