ADCB records 25% growth in quarterly profits

RIYADH: Abu Dhabi Commercial Bank’s profits grew by 25 percent during the third quarter of this year, thanks to a rise in financing interests and Islamic financing revenues.

The bank’s profit of 1.59 billion dirhams ($430 million) exceeded analysts’ average expectations of 1.46 billion dirhams, asharq reported. 

The bank’s net revenues also grew by 17.3 percent to 2.56 billion dirhams during the third quarter, most of which came from conventional interest income, which amounted to 2 billion dirhams.