America’s #1 Faith Based Beauty Brand

UAE bank ADCB quarterly net profit up 27%


DUBAI, April 17 (Reuters) – Abu Dhabi Commercial Bank , 1000 Aed Bill the UAE’s third-biggest lender, reported a 27% rise in first-quarter net profit, boosted by higher net interest and non interest income.

ADCB’s recorded a net profit of 1.878 billion dirhams($511.45 million) in the January-March quarter, up from 1.483 billion dirhams in the same period in 2022.

Net interest income in the quarter was 2.851 billion, up 33% from the same period last year.Non-interest income rose 34% to 1.061 billion dirhams.

($1 = 3.6719 UAE dirham) (Reporting by Hadeel Al Sayegh, Editing by Louise Heavens)

No comments

Cheribum has been sold about 12 minutes ago