Abu Dhabi Commercial Bank (ADCB), which is in merger talks with two other banks, on Sunday reported a 5.5 percent rise in third-quarter profit, roughly in line with analyst forecasts. ADCB made a net profit of 1.15 billion dirhams ($313.1 million) in the three months ending Sept. 30, up from 1.09 billion dirhams in the same period of last year.
The mean estimate from three analysts polled by Refinitiv for the third quarter was 1.2 billion dirhams. Net interest and Islamic finance income rose to 1.80 billion dirhams, from 1.68 billion dirhams a year earlier. Customer deposits stood at 169.79 billion dirhams at the end of the quarter, up 4 percent from a year earlier. Net loans and advances stood at 165.21 billion dirhams.
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