DUBAI: Abu Dhabi Islamic Bank posted a 19.3 percent rise in fourth-quarter net profit on Sunday, and also proposed a cash dividend for 2014 that was in line with the previous year's pay-out.
The emirate's largest sharia-compliant bank made a net profit of 409.6 million dirhams ($111.5 million) in the three months to Dec. 31, up from 343.3 million dirhams in the prior-year period, it said in a statement.
Analysts at Beltone Financial and EFG Hermes forecast ADIB would make a quarterly net profit of 327 million dirhams and 443.3 million dirhams respectively.
The bank made a 2014 annual profit of 1.75 billion dirhams, up 20.7 percent on 2013.
ADIB's board has proposed paying an annual cash dividend of 0.2334 dirhams per share, the statement added. The bank paid a dividend of 0.24 dirhams per share for 2013, according to Reuters data.
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