First Gulf Bank Second-Quarter Profit Rises 14%

July 24 (Bloomberg) -- First Gulf Bank PJSC, a lender controlled by Abu Dhabi’s ruling family, posted a 14 percent increase in second-quarter profit, beating analysts’ estimates.

Net income advanced to 1.02 billion dirhams ($277 million) from 890 million dirhams a year earlier, the bank said in an e- mailed statement today. The mean estimate of five analysts was for a profit of 955 million dirhams, according to data compiled by Bloomberg.

To contact the reporter on this story: Arif Sharif in Dubai at

To contact the editor responsible for this story: Shaji Mathew at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.