First Gulf Bank, the second-largest lender by market value in the United Arab Emirates, posted a 14 percent rise in second-quarter net profit on the back of increased lending and a better net interest margin, beating analysts' forecasts.
The lender, majority-owned by Abu Dhabi's ruling family, made a net profit of 1.02 billion dirhams ($278 million) for the three months ended June 30, compared with 890 million dirhams in the prior-year period, it said on Tuesday.
Analysts polled by Reuters had estimated an average profit of 950.1 million dirhams for the second quarter.
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