Abu Dhabi Islamic Bank posted a 20.6 percent increase in its third-quarter net profit on Monday, ahead of analyst expectations.
Abu Dhabi’s largest sharia-compliant bank made a net profit of AED476.8 million ($129.8 million) in the three months to Sept. 30, up from AED395.5 million in the prior-year period, it said in a statement.
The earnings were ahead of forecasts by analysts at Beltone Financial and EFG Hermes, who expected net profit for the period of AED471 million and AED459 million respectively.
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