According to the results of the bank for the Abu Dhabi Financial Market today, Wednesday, the losses for the period amounted to 99 million dirhams, compared to the losses for the first quarter of 2019 amounting to 106 million dirhams.
According to the results, the bank has made progress in implementing its transformation strategy that aims to simplify its operations and increase efficiency and reduce costs, which contributed to reducing operating expenses by 8% during the first quarter. This year, to 54 million dirhams.
The bank noted the decline in provisions for the decrease in the recorded value of the first quarter of this year to 120 million dirhams, a decrease of 18%, despite the allocation of 45 million dirhams in anticipation of the economic effects of the Corona pandemic. .
During the first quarter of this year, the bank recorded an income of 75 million dirhams, compared to 100 million dirhams for the same period in 2019, a decrease of 25%. p>
