Abu Dhabi Commercial Bank posts $330m loss

Abu Dhabi Commercial Bank posted a fourth-quarter loss of Dhs1.2bn ($330m), compared with a loss of Dhs262m a year earlier, Bloomberg has reported. Raising impairment allowances to Dhs2.05bn from Dhs888m had led to the sharp rise in Q4 results, the lender said. 'This has been a difficult year and net profitability has been impacted as a result of the current economic crisis and additional provisioning requirements,' Chairman Eissa Al Suwaidi said in a statement.