Abu Dhabi Commercial Bank on Sunday posted an 8 percent rise in first-quarter profit, slightly above analysts' forecasts, helped by a double-digit percentage increase in non-interest income.
The emirate's second-largest bank by assets made a net profit attributable to shareholders of 1.11 billion dirhams ($302.2 million) in the three months to March 31, compared to 1.02 billion dirhams in the same period a year ago, according to its financial statement. Three analysts polled by Reuters had on average forecast a net profit for the quarter of 995.4 million dirhams. ADCB's non-interest income in the quarter was 598 million dirhams, up 11 percent year-on-year.
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