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UAE bank ADCB reports record profit in Q1, up 27%

Abu Dhabi Commercial Bank
, the UAE s third-biggest lender, reported a 27% rise
in first-quarter net profit, boosted by higher net interest and
non-interest income.
The bank reported a. | April 17, 2023 ....

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UAE bank ADCB reports soaring profit as it recovers from NMC impairments

Middle EastUAE bank ADCB reports soaring profit as it recovers from NMC impairments
Reuters
2 minutes read
Abu Dhabi Commercial Bank (ADCB) (ADCB.AD), UAE s third-biggest lender, reported a more than 400% surge in first-quarter profit on Sunday, after it took big impairments a year earlier due to its large exposure to troubled hospital operator NMC Health.
Net profit in January-March this year totalled 1.1 billion dirhams ($299.50 million), a 436% increase year on year and an 11% increase quarter on quarter, ADCB said.
The growth was largely due to improved cost of risk compared to Q1 20, Chief Executive Ala a Eraiqat said in the earnings statement. ....

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