First Abu Dhabi Bank Q2 profit up 19% | ZAWYA MENA Edition

First Abu Dhabi Bank Q2 profit up 19% | ZAWYA MENA Edition:

First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, on Tuesday reported a 19 percent rise in second-quarter 2018 profit, boosted by higher foreign exchange and investment income, as well as lower impairment charges.

FAB made a net profit of 3.06 billion dirhams ($845 million) in the three months ending June 30, compared to 2.56 billion dirhams in the prior-year period, it said in a statement.

SICO Bahrain and EFG Hermes had forecast FAB would make a second-quarter profit of 2.88 billion dirhams and 2.80 billion dirhams respectively .