Abu Dhabi Commercial Bank posts $110 million net profit for 2003
Abu Dhabi Commercial Bank (ADCB) reported a net profit of 405 million Emirati dirhams ($110 million) for the year 2003. The bank’s total assets rose to Dh 28.751 million and loans and advances to Dh 19.27 million during 2003, increases of four percent and 11 percent respectively.
Customer deposits registered an increase of six percent to Dh 19.3 million, while shareholder equity grew by two percent to Dh 4.4 million before the proposed distribution of dividends totaling Dh 312.5 million. The ADCB Board is recommending maintaining a cash dividend of 25 percent, the same level as the past two years. — (menareport.com)
© 2004 Mena Report (www.menareport.com)