ADCB Q1 Net Profit Climbs 15%

Abu Dhabi Commercial Bank (ADCB) reported a 15 per cent increase in first-quarter net profit on Tuesday, beating analysts’ expectations.

The United Arab Emirates’ fourth-largest lender by assets posted a net profit attributable to shareholders of Dhs953 million ($260 million) in the opening three months of 2014, up from Dhs829.5 million in the prior-year period.

Seven analysts polled by Reuters had estimated an average first-quarter profit of Dhs853.1 million.