National Bank of Abu Dhabi Rises Most in Four Weeks as Net Beats Estimates

National Bank of Abu Dhabi PJSC climbed the most in almost four weeks after reporting a 10 percent increase in second-quarter profit, beating analysts’ estimates.

The shares of the second-biggest United Arab Emirates bank by assets climbed 2.3 percent, the most since July 1, to 11.25 dirhams at 10:45 a.m. in Abu Dhabi.

Net income rose to 1 billion dirhams ($272 million) from 906.5 million dirhams a year earlier as the bank boosted income from lending and set aside less money for bad loans. That exceeded the median estimate of five analysts for a profit of 920 million dirhams, data compiled by Bloomberg show.

To contact the reporter on this story: Claudia Maedler in Dubai at cmaedler@bloomberg.net

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