UAE lender NBAD Q1 net profit flat, beats estimates

DUBAI, April 28 Mon Apr 28, 2014 6:42am EDT

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DUBAI, April 28 (Reuters) - National Bank of Abu Dhabi , the United Arab Emirates' largest lender by market value, reported flat growth in first-quarter net profit, beating analysts' forecasts.

The bank posted net profit of 1.41 billion dirhams ($383.9 million) in the first three months of 2014, the same figure as the corresponding quarter last year.

The result was significantly ahead of the average forecast of analysts polled by Reuters, who expected a net profit for the quarter of 1.20 billion dirhams. ($1 = 3.6730 UAE Dirhams) (Reporting by David French; Editing by Mirna Sleiman)