Thursday 24 September 2020

ADCB Q4 profit jumps 29pc to $277m

ABU DHABI, January 25, 2015

Abu Dhabi Commercial Bank (ADCB) made a net profit of Dh1.02 billion ($277.7 million) in the three months of 2014 versus Dh793.1 million in the corresponding period of 2013, marking a rise of 28.9 per cent according to Reuters calculations.

The fourth-largest lender by assets in the United Arab Emirates did not provide a breakdown of its fourth quarter earnings, so Reuters used the bank's full-year results statement to calculate its quarterly profit.

Three analysts polled by Reuters on average forecast ADCB would make a quarterly profit of Dh920.7 million.

ADCB made a 2014 net profit of Dh4.05 billion, up 20 percent on 2013, it said in a statement.

The bank also proposed paying a cash dividend of Dh0.4 per share for 2014. This is higher than the Dh0.3 it paid for 2013, according to Thomson Reuters data. – Reuters

Tags: Abu Dhabi Commercial Bank | ADCB | Net Profit |

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