Abu Dhabi Islamic Bank (ADIB) reported on Wednesday a 30 percent drop in its second-quarter net profit, dragged down by provisions against credit losses and its real estate unit. The bank, one of the smaller banks in the UAE capital, said it made a second-quarter net profit of AED193.4 million ($52.65 million), down from AED275.7 million in the same period last year. ADIB's real estate investment unit Burooj made a net loss of AED14.4 million in the first half, compared with a net profit of 141.8 million dirham in the same period in 2008.
