Abu Dhabi Islamic Bank Q2 net profit jumps 22.6 pct, beats estimates

ABU DHABI, July 20 Sun Jul 20, 2014 7:02am EDT

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ABU DHABI, July 20 (Reuters) - 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) (Reporting by Stanley Carvalho; Editing by David French)


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