ADCB Q3 net profit falls 90 percent

Abu Dhabi Commercial Bank (ADCB) posted a net profit of AED44 million ($11.98 million) in the third quarter of the year, a 90 percent drop as compared to the AED447.6 million it made during the same period last year.

“The bank continued to set aside provisions to cover any probable loss in its loan portfolio and some investments which had a negative impact on the bank’s results for Q3,” Eissa Al Suwaidi, chairman of ADCB, said in a statement.