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26-04-22
Abu Dhabi Commercial Bank posts increase in net revenue of 32 percent
(MENAFN) Abu Dhabi Commercial Bank registered a 32 per cent increase in net revenue for the first three months of the year reinforced by less impairment costs and higher fee revenue over enhancing economic circumstances in the UAE.
According to lender statement on Monday to the Abu Dhabi Securities Exchange, where its stocks are exchanged, net revenue for the mentioned time frame hit Dh1.48 billion (USD403 million) as impairment payments dropped by 58 per cent on a yearly basis to Dh294m (USD80.04) “due to higher recoveries and improved economic conditions”
Alaa Eraiqat, chief executive of ADCB stated, “ADCB delivered a solid performance in the first quarter of 2022 reflecting improving economic conditions in the UAE, despite ongoing global uncertainty.”
MENAFN26042022000045013568ID1104093674
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