ADCB declares record net profit
Abu Dhabi Commercial Bank (ADCB) has declared a record net profit for the first half of 2006 of Dh 1,198 million against Dh 844 million for the same period last year, an increase of 42 %.
Operating profit for the first half of 2006 has risen to Dh1,771 million, a 57 % increase over 2005. Total assets also increased by 19 % from AED 57.5 billion to Dh 64.8 billion during the first half of 2006. Deposits have grown by 11% to Dh 37.5 billion from Dh 33.9 billion for the same period last year. Loans and advances have also increased by 15 % to Dh 48.5 billion from Dh 42.2 billion at the end of 2005.