Abu Dhabi Commercial Bank (ADCB) – the third
largest bank in the United Arab Emirates and second largest in Abu
Dhabi by assets – has reported a net profit of AED391m ($106.4m)
for the 12 months to 31 December, compared to a net loss of AED513m
in the prior year.
Net interest income increased 12% to AED3.86bn
while ADCB’s net interest margin inched up by 6 basis points to
2.57%.
Go deeper with GlobalData
Non-interest income increased by 10%
year-on-year to AED1.66bn.
Other highlights included a 130 basis points
reduction in ADCB’s cost-income ratio during fiscal 2010 to
30.9%.
ADCB’s NPL ratio increased by 60 basis points
during the year to 5.8%.
Net impairment allowances for 2010 of
AED3.29bn were down 12% from the previous year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCustomer deposits increased by 23% to
AED106bn; lending growth of only 5% to AED123bn helped to reduce
ADCB’s loan to deposit ratio to 116% (FY: 139%).
