Tuesday, Feb 14, 2012
0659 GMT [Zawya Dow Jones]--Abu Dhabi Islamic Bank shares rise 4% to AED3.40 on the Abu Dhabi market. The lender said fourth-quarter net profit almost doubled on year to AED216.2 million. EFG Hermes says ADIB's earnings exceed its AED147 million estimate mainly due to stronger than expected revenues. EFG says positives from the results include wider net interest spreads, decrease in NPL ratio and improvement in NPL coverage; while it highlights negatives as muted loan growth, higher than expected credit provisions and further write-down on Burooj properties. (nikhil.lohade@dowjones.com)
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(END) Dow Jones Newswires
14-02-12 0710GMT
