Abu Dhabi – Mubsher: Abu Dhabi Commercial Bank’s (ADCB) net profits increased 8.3% in the first quarter of 2017 compared to the same quarter in 2016, according to a bourse filing on Sunday.
Net profits reached AED 1.105 billion ($300.86 million) in Q1-17, compared to AED 1.020 billion ($277.72 million) in Q1-16.
Provisions went up by 9.7% to AED 386.38 million in the first three months of 2017, compared to AED 352.18 million in the same period in 2016.
ADCB had previously reported a 15.6% decrease in annual profits to AED 4.16 billion in 2016, compared to AED 4.93 billion in 2015, as bad debt provisions negatively impacted the bank's earnings.
