Tuesday 25 October 2011

UAE's First Gulf Q3 profit rises 8 pct | Reuters

Abu Dhabi's First Gulf Bank on Monday reported an 8-percent rise in third quarter net profit driven by higher revenues and beating analyst forecasts.

The bank reported a net profit of 920 million dirhams ($250.68 million) up from 849 million dirhams in the same quarter last year. Analysts polled by Reuters forecast an average net profit of 860.29 million dirhams.

Net interest and Islamic financing revenue in the third quarter was 1.35 billion dirhams, up 26 percent from the same period last year.

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