Abu Dhabi Is­lamic Bank Q3 net profit rises 1.1%

Kuwait Times - - BUSINESS -

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.

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