By: Bedour Al Ra'ee
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB), listed on the Abu Dhabi Securities Exchange (ADX), on Monday hit its lowest level in more than a month and a half, in line with the announcement of the third-quarter financial results.
By 10:45 am UAE time, the stock fell by 1.05% to AED 7.52, acquiring the second spot among the bourse top losers.
Around 115,409 shares were traded on the stock at a turnover of AED 886,811 through 15 transactions.
On Sunday, ADCB reported positive results for Q3-18 and the first nine months of the year.
The Abu Dhabi-based and listed lender logged AED 1.151 billion ($313 million) in net profits between July and September, up 5.6% year-on-year from AED 1.09 billion ($296 million).
In terms of the first nine months of 2018, Abu Dhabi’s second largest bank in terms of assets achieved AED 3.483 billion in net profits, up 9% from AED 3.205 billion in the same period of 2017, according to a bourse filing.
ADCB attributed its profit growth to a 5% increase in operating revenues in the nine-month period to AED 6.94 billion from AED 6.58 billion the year-ago period.
Translated by: Mai Ezz El-Din
