October 17, 2016 / 5:11 AM / 9 months ago

Dubai's Emirates NBD Q3 net profit flat, narrowly misses estimates

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DUBAI, Oct 17 (Reuters) - Emirates NBD (ENBD), Dubai's largest lender, posted flat third-quarter net profit, it said on Monday, narrowly missing analysts' forecasts.

The bank made a net profit of 1.66 billion dirhams ($452 million) in the three months to Sept. 30, compared to 1.67 billion dirhams in the corresponding period of 2015, according to financial statements.

Three analysts on average forecast the bank would make a net profit for the quarter of 1.88 billion dirhams.

The bank, 55.6-percent owned by state fund Investment Corp. of Dubai, reported a net profit of 5.38 billion dirhams for the first nine months of 2016, up from 4.99 billion dirhams in the corresponding period of last year. ($1 = 3.6726 UAE dirham) (Reporting By Tom Arnold, Editing by William Maclean)

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