Abu Dhabi Islamic Bank has said its full-year profit in 2009 had dropped to Dhs78m from Dhs460m in 2008, Reuters has reported. The lender recorded a fourth-quarter loss of Dhs623m, compared to a profit of Dhs114.4m in Q4 2008 due to provisions against loans, the bank said. Total credit provisions reached Dhs1.75bn in 2009 amounting to 4.2% of gross customer financing assets.
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