InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
AI Subscribe Login/Register account icon
S&P 500
5,720.31
(
0.31%
)
US TECH 100
19,314.00
(
0.08%
)
Dow Jones
42,126.93
(
0.15%
)
Brent Oil
74.48
(
0.80%
)
Bitcoin
63,642.94
(
0.03%
)
Post# of 2107
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

RowdyGentleman

Send PM Follow Ignore
Followers 12
Posts 123
Boards Moderated 0
Alias Born 04/24/2020

RowdyGentleman

Re: None

Wednesday, 07/29/2020 9:25:08 AM

Wednesday, July 29, 2020 9:25:08 AM

Post# of 2107
Good news from ADCB 2nd qtr...continues to work with NMC's administrators to ensure debt repayment.

Even more importantly (IMO) impairments (for both NMC and Finablr) are much less than 1st quarter.

Remember that ADCB had the largest exposure.

"Impairment charges in the second quarter were significantly lower than in the first quarter of the year," Chief Executive Ala’a Eraiqat said.

"Given the current information on revenue generation, cash flows and asset values received from the joint administrators and our advisers, we believe the provisions of AED 1.231 billion taken to date for the NMC Health Group and Finablr are sufficient."

https://www.nasdaq.com/articles/abu-dhabi-commercial-bank-q2-net-profit-falls-15-as-impairments-rise-2020-07-29

Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up