February 14, 2017 / 10:33 AM / 5 months ago

Abu Dhabi Islamic Bank Q4 net profit falls 4.7 pct

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ABU DHABI, Feb 14 (Reuters) - Abu Dhabi Islamic Bank on Tuesday posted a 4.7 percent fall in fourth quarter profit, according to a statement.

The emirate’s largest sharia-compliant bank made a net profit of 455.1 million dirhams ($124.0 million) in the three months ending Dec. 31, compared to 477.4 million dirhams in the same period a year ago, it said in a statement.

EFG Hermes forecast the bank would make a net profit of 455.0 million dirhams in the quarter.

The bank's board proposed a cash dividend of 24.52 percent for 2016, the statement said, slightly up from 24.27 percent the year before. (Reporting By Stanley Carvalho, editing by Tom Arnold)

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