October 24, 2019 / 12:12 PM / a month ago

UAE's First Abu Dhabi Bank third-quarter net profit up 3%

ABU DHABI (Reuters) - First Abu Dhabi Bank (FAB.AD), the largest lender in the United Arab Emirates, on Thursday, reported a 3% rise in third-quarter 2019 profit, broadly in line forecasts of analysts.

FAB made a net profit of 3.11 billion dirhams ($847 million) in the three months ending Sept 30, compared to 3.02 billion dirhams in the prior-year period, it said in a statement.

EFG Hermes forecast a net profit of 3.12 billion dirhams for FAB for the quarter, while SICO Bahrain forecast a net profit of 3.21 billion dirhams.

Reporting By Stanley Carvalho, editing by Saeed Azhar

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