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First Abu Dhabi Bank, the United Arab Emirates' largest lender, has reported a 22 per cent slide in first quarter profits as it faced the impact of the coronavirus pandemic.
The bank posted a net profit of $654 million (2.4 billion dirhams) for January to March, compared to $845 million for the same period of 2019.
In a statement, it said the decline was due to lower revenues resulting from interest rate cuts and unprecedented market conditions, as well as provisions for risks from the coronavirus impact.
