Abu Dhabi Commercial Bank profits up 34 per cent

17 July 2008
Abu Dhabi Commercial Bank (ADCB) has reported a 34 per cent increase in profits for the three months to the end of June, driven by a 45 per cent increase in fee income.

Profit for the period was AED655.4m ($178.5m) rising from AED489m in the same period last year.

Loans and advances rose by 34 per cent in the first half of the year, compared with the same period in 2007, to AED91bn. Deposits with the bank rose by 36 per cent during the same period to AED97bn. Assets rose by 33.5 per cent to AED128bn.

The bank also said that foreign exchange and derivative income rose by 227 per cent.

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