July 17, 2019 / 1:50 PM / a month ago

UAE FAB's Q2 net profit up 5%, sees 2019 mid-single digit profit growth

ABU DHABI, July 17 (Reuters) - First Abu Dhabi Bank , the largest bank in the United Arab Emirates, on Wednesday, reported a 5% rise in second-quarter net profit. FAB made a net profit of 3.2 billion dirhams ($872 million) in the three months ending June 30, compared to 3.06 billion dirhams in the prior-year period, it said in a statement. EFG Hermes had forecast a net profit of 3.2 billion dirhams for the second quarter.

The bank also said it expects mid-single digit profit growth and high-single digit growth in loans in 2019. (Reporting By Stanley Carvalho, editing by Saeed Azhar)

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