First Gulf Bank, the UAE's second-largest lender by market value, on Wednesday beat analysts' expectations with a 12-percent rise in fourth-quarter net profit, boosted by higher interest income and Islamic financing.
The bank made a net profit of AED1.15bn (US$313.1m) in the final three months of 2012, up from AED1.02bn in the same period of 2011.
Six analysts polled by Reuters forecast an average net profit of AED1.024bn for the quarter.
Full-year net profit for 2012 was AED4.15bn, also up 12 percent over 2011.
http://www.arabianbusiness.com/uae-s-first-gulf-bank-q4-profits-up-12--487795.html
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