Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) on Tuesday posted a 27% year-on-year hike in its profits for the fourth quarter of 2018.
Net profits amounted to AED 1.36 billion in Q4-18, compared to AED 1.07 billion in Q4-17, according to a filing to the Abu Dhabi Securities Exchange (ADX).
During the full-year 2018, profits of Abu Dhabi’s second-largest lender by assets grew 13% to AED 4.84 billion, versus AED 4.28 billion in 2017.
It is worth noting that the bank’s profits jumped 9% year-on-year to AED 3.48 billion during the first nine months of 2018.
By the end of Monday’s session, ADCB’s stock inched down 0.22% at AED 8.90.
