DUBAI: Abu Dhabi Commercial Bank (ADCB) reported a 25 percent rise in second-quarter net profit on Tuesday, beating analysts' forecasts.
The United Arab Emirates' third-largest lender by market value, posted a net profit of 917 million dirhams or $249.7 million in the three months to June 30, it said in a statement.
That compares with 733 million dirhams in the prior-year period, according to Thomson Reuters data.
Six analysts polled by Reuters had estimated an average second-quarter profit of 783.7 million dirhams for the second quarter.
Banks in the Gulf state are reporting strong improvement in the second-quarter thanks to an economic recovery and lower provisioning for exposure to state-linked entities.
Dubai's biggest bank Emirates NBD beat expectations with a 50 percent jump in profit last week.
ADCB said net profit for the first half of the year rose 17 percent to 1.82 billion dirhams on the back of a strong rise in interest and non-interest income. (Reuters)
