Abu Dhabi Commercial Bank Q4 net profit rises 16 pct

Abu Dhabi Commercial Bank (ADCB) on Sunday posted a 16 percent rise in fourth-quarter net profit.

The emirate's third largest bank by assets made a net profit attributable to shareholders of 1.19 billion dirhams ($324 million) in the three months to Dec. 31, compared to 1.02 billion dirhams in the corresponding period of the previous year, it said in a bourse statement.

Two analysts polled by Reuters had forecast net profit for the quarter of 986 million dirhams and 1.12 billion dirhams respectively.

The bank also proposed paying a cash dividend of 0.45 dirhams per share for 2015. This is higher than the 0.40 dirhams it paid for 2014.

ADCB made a 2015 net profit of 4.92 billion dirhams, up 22 percent on 2014, it said in a statement.

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