NBAD, ADCB Q2 profits beat estimates

National Bank of Abu Dhabi, the largest lender in the United Arab Emirates, on Tuesday reported a 17.5 percent rise in second-quarter net profit, beating analysts' average estimates.

NBAD, almost 70-percent owned by Abu Dhabi's government, made a net profit of Dh1.42 billion ($386.6 million) in the three months to June 30, up from Dh1.21 billion in the corresponding period of 2013, the bank said in a statement.

Six analysts polled by Reuters earlier this month forecast an average net profit of Dh1.30 billion.

Abu Dhabi Commercial Bank (ADCB), the fourth-largest lender by market value in the United Arab Emirates, beats estimates on Tuesday as it posted a 22 percent rise in second-quarter net profit.

The bank made a net attributable profit of Dh1.06 billion ($288.6 million) in the three months ending June 30, versus Dh868.5 million in the corresponding period last year, it said in a statement.

Six analysts polled by Reuters earlier this month forecast an average net profit of Dh983.8 million.

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