PHOTO
* ADIB Q3 net profit 508.9 mln dhs vs 503.2 mln dhs yr-ago
* ADIB Q3 provisions, impairment charges rise to 267.7 mln dhs
(Adds details, quotes)
ABU DHABI, Oct 24 (Reuters) - Abu Dhabi Islamic Bank
Dubai Islamic Bank
ADIB, Abu Dhabi's largest sharia-compliant bank, made a net profit of 508.9 million dirhams ($139 million) in the three months ending Sept. 30, compared to 503.2 million dirhams in the same period a year ago, up 1.1 percent, it said in a statement.
EFG Hermes forecast the bank would make a net profit of 494.5 million dirhams in the quarter.
Earlier this month, ADIB chief executive Tirad al-Mahmoud told Reuters the bank's earnings in the second half would be similar to the opening six months of 2016.
"The bank has taken a prudent view on credit extension and capital management while continuing our conservative practice of building provisions, given the ongoing challenging global economic environment," al-Mahmoud said in the statement.
ADIB booked credit provisions and impairment charges totalling 267.7 million dirhams in the third quarter, compared to 193.0 million dirhams in the year-ago period.
Net revenues in the third quarter were up 7 percent, reaching 1.37 billion dirhams compared to 1.28 billion dirhams in the prior-year quarter.
The bank currently has over 903,000 customers, having added 48,000 new customers in the year to the third quarter, the statement said. ($1 = 3.6726 UAE dirham)
(Reporting by Stanley Carvalho and Tom Arnold; Editing by David French and Alexander Smith) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
Keywords: ABU DHABI BK RESULTS/