(Corrects percentage increase in headline, first paragraph)
DUBAI, April 21 Abu Dhabi Islamic Bank
, the largest sharia-compliant lender in the emirate,
met analysts' expectations as it posted a 20.4 percent rise in
first-quarter net profit on Monday.
The lender, which said earlier this month it was buying much
of Barclays' retail operations in the United Arab Emirates, made
a net profit of 409.5 million dirhams ($111.5 million) in the
three months to March 31. That was up from 340.1 million dirhams
in the prior-year period, it said in a bourse statement.
The results were in line with the average estimate of three
analysts, who forecast profit of 411 million dirhams in a
($1 = 3.6730 UAE Dirhams)
(Reporting by David French; Editing by Mirna Sleiman)