Abu Dhabi Islamic Bank Q3 net profit rises 1.1%
DUBAI: Abu Dhabi Islamic Bank (ADIB) yesterday posted a 1.1 percent rise in third-quarter net profit. The emirate’s largest sharia-compliant bank made a net profit of 508.9 million dirhams ($138.6 million) in the three months ending Sept. 30, compared to 503.2 million dirhams in the same period a year ago, it said in a statement. EFG Hermes forecast the bank would make a net profit of 494.5 million dirhams in the quarter. Earlier this month, ADIB chief executive Tirad Al-Mahmoud told Reuters the bank’s earnings performance in the second half of this year would be similar to the opening six months of 2016.