Abu Dhabi Islamic Bank Q3 profit in slight rise - statement
ABU DHABI Oct 16 (Reuters) - Abu Dhabi Islamic Bank , the largest sharia-compliant lender by market value in the United Arab Emirates, posted a 3 percent rise in third-quarter net profit on Tuesday, ahead of analyst expectations.
The bank said it made a profit of 328.5 million dirhams ($89.4 million) compared to 319.1 million dirhams in the same period last year, it said in a statement.
Two analysts polled by Reuters had forecast an average profit of 304 million dirhams.
Net revenue rose 12.1 percent to 924.1 million dirhams, from 824.6 million dirhams in the same quarter last year.
Total credit provisions and impairments stood at 958.5 million dirhams at the end of September, compared to the 938.9 million dirhams recorded at the same point last year. ($1 = 3.6730 UAE dirhams) (Reporting by Stanley Carvalho; Editing by David French)
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