UAE lender ADCB posts 23% rise in Q3 net profit, beats estimates

DUBAI: Abu Dhabi Commercial Bank beat forecasts with a 23% rise in third-quarter profit on Wednesday helped by factors such as a jump in fee and commission income.

The UAE’s third-largest bank by assets reported a net profit of 2.39 billion dirhams ($651 million) for the three months to Sept. 30, up from 1.94 billion a year earlier.

UAE’s ADCB plans to sell $500 million in tier 2 capital securities

That topped the 2.09 billion expected by analysts, LSEG data showed.