Abu Dhabi-Mubasher: Watani Investment Company (NBK Capital) set the fair value of Abu Dhabi Commercial Bank (ADCB) at AED 9.20, with “Buy” recommendation, according to a recent report.
NBK Capital’s recommendation is attributed to the bank’s results which came better than expectations in terms of operating income, loan growth, and net profit.
Operating income and interest income rose 2.9% and 6% respectively in the fourth quarter of 2015, compared to figures from the same period of 2014.
Loans grew 2% on quarterly basis, the report said, adding that bad loans declined 3% by the end of 2015, compared to 3.1% in September.
