uae\s adcb q2 net profit boosted by rhb stake sale
Last Updated : GMT 12:00:12
Arab Today, arab today
Arab Today, arab today

UAE\'s ADCB Q2 net profit boosted by RHB stake sale

Arab Today, arab today

Arab Today, arab today UAE\'s ADCB Q2 net profit boosted by RHB stake sale

Abu Dhabi - Arabstoday

Abu Dhabi Commercial Bank (ADCB) , the UAE\'s fourth largest lender by market capitalisation, swung to a second-quarter net profit on Tuesday as it booked a $357m gain from the sale of its quarter-percent stake in Malaysia\'s RHB Capital .The lender, one of the region\'s most exposed banks to indebted conglomerate Dubai World , reported a net profit of AED1.34bn ($364.9m) in the second quarter, compared with a loss of AED531m for the previous year, the bank said in a statement on Tuesday.Analysts polled by Reuters had estimated an average second quarter profit of AED1.31bn for the bank.ADCB is one of two UAE banks on an informal seven-member coordinating committee negotiating Dubai World\'s restructuring plan. In June, it sold its stake in Malaysian lender RHB to Abu Dhabi sovereign fund Aabar for 10.80 ringgit per share in a $1.91bn deal.The bank also said it would convene a shareholders meeting to buy back up to 10 percent of its capital.Net impairment allowances for the second-quarter stood at AED935m compared with AED1.30bn in the year earlier period. The bank took an additional impairment provision of AED275m for the first half, it said.ADCB said loans fell 5 percent to AED123bn in the second quarter of 2011 compared to a year ago, while deposits remained flat at AED106.35bn for the same period.Operating income stood at AED1.42bn in the second quarter versus AED1.12bn a year ago, the statement said.ADCB shares have risen 50 percent year-to-date. They were halted pending the announcement of results on Tuesday. From / Arabian Business

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae\s adcb q2 net profit boosted by rhb stake sale uae\s adcb q2 net profit boosted by rhb stake sale

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae\s adcb q2 net profit boosted by rhb stake sale uae\s adcb q2 net profit boosted by rhb stake sale

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Online exhibit shows hidden depths of

GMT 11:45 2017 Thursday ,23 November

Online exhibit shows hidden depths of
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday