ADCB 2009Q2 profit Dh303m -54%
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ADCB 2009Q2 profit Dh303m -54%

 
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ADCB 2009Q2 profit Dh303m -54%

Posted on Wed 29 Jul 2009 15:30 by sharewadi 		Reply with quote

ADCB financial statements for 2009Q2 on ADX website this afternoon, after market closed. ADCB shares fell 4.1% top 1.90 dhs per share, but from low volumes.

ADX 29 July 2009 (pm):
(ADCB) Abu Dhabi Commercial Bank discloses financial statements for the 2nd quarter, 2009

Total Assets up slightly from AED 148 bn at 31 December 2008, to AED 154.5 bn as of 30 June 2009. Total liabilities also up slightly from AED 132bn to AED 134.5bn. I don't see anything obvious about provisions for bad debts from the Saad and Al Gosaibi fallout. No press release or BOD report received.

Revenue (Interest Income) up about 35% from AED 1.28bn to AED 1.73bn.
Impairment allowances on financial assets up 180% from AED 218m to AED 612m which impacted net profit so that 2009Q2 figure of AED 303m was down more than 50% from AED 655m.
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