Financial and Banking News
Abu Dhabi Commercial Bank Increases Profits And Makes Big Provision
The most striking feature of Abu Dhabi Commercial Bank's results is theDh450mn ($123mn) provision for loan losses which is booked after stating the netprofit figure. Had these provisions been taken in the profit and loss accountthe bank would have recorded a loss of Dh284.7mn ($78mn). A bank official deniedthat there is anything unusual about taking provisions...