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First Abu Dhabi Bank joins Middle East lenders in raising provisions
Abu Dhabi’s biggest lender joined its regional Gulf competitors in setting aside higher provisions to cover a spike in bad loans brought on by the coronavirus pandemic. First Abu Dhabi Bank increased impairments to 1.06 billion dirhams ($289 million) from 467 million dirhams year ago. That resulted in second-quarter profit…
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Click here to read the full story: Arabian Business