January 28, 2014 / 11:17 AM / 4 years ago

National Bank of Abu Dhabi Q4 net edges down

DUBAI, Jan 28 (Reuters) - National Bank of Abu Dhabi , the largest lender by market value in the United Arab Emirates, posted fourth-quarter profit that fell marginally from a year earlier, in line with analysts’ estimates.

NBAD, majority-owned by the Abu Dhabi government, said on Tuesday that net profit for the quarter was 1.08 billion dirhams ($294 million), slightly lower than 1.12 billion dirhams in the year-ago quarter.

Six analysts polled by Reuters had forecast quarterly net profit of 1.10 billion dirhams.

Full-year net profit rose 9 percent to 4.73 billion dirhams, NBAD said, adding that it was recommending a cash dividend of 0.4 dirhams per share for investors. ($1 = 3.6730 UAE dirhams) (Reporting by Stanley Carvalho; Writing by Dinesh Nair; Editing by Andrew Torchia)

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