Abu Dhabi Commercial Bank (ADCB) on Sunday posted a 16 per cent rise in fourth-quarter net profit.

The emirate's third largest bank by assets made a net profit attributable to shareholders of Dh1.19 billion ($324 million) in the three months to Dec. 31, compared to Dh1.02 billion in the corresponding period of the previous year, it said in a bourse statement.

Two analysts polled by Reuters had forecast net profit for the quarter of Dh986 million and Dh1.12 billion respectively.

The bank also proposed paying a cash dividend of Dh0.45 per share for 2015. This is higher than the Dh0.40 it paid for 2014.

ADCB made a 2015 net profit of Dh4.92 billion, up 22 per cent on 2014, it said in a statement. – Reuters