ABU DHABI, Abu Dhabi Islamic Bank (ADIB), the largest sharia-compliant lender in the emirate, beat analysts’ estimates on Sunday as it posted a 22.6 percent jump in second-quarter net profit.
The lender, which in May got regulatory approval to purchase much of Barclays’ retail operations in the United Arab Emirates, made a net profit of 454.8 million dirhams ($123.8 million) in the three months to June 30 compared to 371 million dirhams in the same period of 2013, it said in a statement.
Three analysts polled by Reuters earlier this month forecast an average net profit of 406 million dirhams.
($1 = 3.6725 United Arab Emirates Dirhams)
Originally published on www.zawya.com