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RowdyGentleman

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RowdyGentleman

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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

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