First Gulf Bank earnings missed analysts' estimates yesterday despite an improving balance sheet and the stabilisation of bad debts.
The UAE's second-biggest bank by market capitalisation reported first-quarter net profit of Dh875.3 million (US$238.3m), 4.8 per cent less than in the same quarter last year.
The results surprised analysts, who had expected profits of Dh973.5m, according to Bloomberg News analysts' estimates.
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