Abu Dhabi Commercial Bank Q4 net profit rises 16 per cent

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

The emirate’s third largest bank by assets made a net profit attributable to shareholders of Dh1.19 billion in the three months to December 31, compared to Dh1.02bn 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 Dh986 million and Dh1.12bn respectively.

The bank also proposed paying a cash dividend of Dh0.45 per share for 2015. This is higher than the Dh0.40 it paid for 2014.

ADCB made a 2015 net profit of Dh4.92bn, up 22 per cent on 2014, it said in a statement.


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