October 22, 2017 / 10:55 AM / 3 months ago

Abu Dhabi Commercial Bank Q3 profit rises 9 pct

DUBAI, Oct 22 (Reuters) - Abu Dhabi Commercial Bank posted a 9 percent rise in third-quarter net profit on Sunday helped by a rise in net interest and non-interest income.

Abu Dhabi’s second-largest bank by assets made a net profit attributable to shareholders of 1.09 billion dirhams ($296 million) in the three months to Sept. 30, up from 999 million a year earlier, it said in a statement.

The result was in line with a EFG Hermes forecast of 1.09 billion dirhams while SICO Bahrain analysts had forecast 1.06 billion dirhams.

The bank was helped by a 10 percent rise in net interest and Islamic financing income, as well as a 5 percent rise in non-interest income.

$1 = 3.6729 UAE dirham Reporting by Tom Arnold; editing by Jason Neely

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