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First Abu Dhabi Bank profit drops 25% as impairments up again

First Abu Dhabi Bank, the United Arab Emirates' biggest lender, reported a 25% fall in quarterly profit on Tuesday, dragged down by another quarter of higher impairment charges.

DUBAI, July 28 (Reuters) - First Abu Dhabi Bank FAB.AD, the United Arab Emirates' biggest lender, reported a 25% fall in quarterly profit on Tuesday, dragged down by another quarter of higher impairment charges.

Its second-quarter net profit was 2.41 billion dirhams ($656 million) versus 3.22 billion dirhams a year earlier. Net impairment charges in the quarter were 1.06 billion dirhams, up 127% from a year ago.

($1 = 3.6728 UAE dirham)

(Reporting by Yousef Saba; Editing by Edmund Blair)

((Yousef.Saba@thomsonreuters.com; +971562166204))

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