(Corrects paragraph 2 to three months to March 31, not Jan. 31)
DUBAI, April 19 National Bank of Abu Dhabi
(NBAD) and First Gulf Bank (FGB), the newly
merged lender, on Wednesday posted a pro-forma first quarter net
profit rise of 12.4 percent.
NBAD and FGB formally merged on April 1.
The merged bank made a net profit of 2.93 billion dirhams
($797.80 million) in the three months ending March 31, according
to a statement.
Pro-forma group net profit increased by 12.4 percent from
last year, driven by healthy activity across our various
businesses and notable improvements in efficiency and asset
quality, the bank said.
($1 = 3.6726 UAE dirham)
(Reporting By Tom Arnold; editing by Saeed Azhar)