National Bank of Abu Dhabi Q3 net falls 8 pct, misses forecasts
ABU DHABI Oct 29 (Reuters) - National Bank of Abu Dhabi said on Tuesday that its third-quarter net profit dropped 8 percent from a year earlier to 1.04 billion dirhams ($283 million), missing analysts' forecasts.
Revenues in the three months to Sept. 30 fell 2.5 percent to 2.19 billion dirhams, while net impairment charges for bad loans totalled 299 million dirhams in the quarter against 367 million dirhams a year earlier.
A Reuters poll of analysts had predicted on average that NBAD would post a third-quarter profit of 1.22 billion dirhams. (Reporting by Stanley Carvalho; Writing by Andrew Torchia; Editing by Dinesh Nair)