Emirates NBD trimmed its 2014 loan growth forecast but raised its expectations for how much lending would earn it this year after reporting an estimate-beating 34.8 percent jump in second-quarter net profit.
Dubai's largest le
Emirates NBD, the largest bank in the UAE by total income and branch network, today reported a net profit growth of 30 per cent year on year for the first half to Dh2.350 billion ($639.7 million).
The strong operating performance
Emirates NBD, Dubai's largest lender, has repaid the remaining 4 billion dirhams ($1.1 billion) of support which it received from the United Arab Emirates government in 2008, the country's finance ministry said.
The UAE mi
Emirates NBD, Dubai's biggest bank, may this year write back its non-performing loan provisions against exposure to conglomerate Dubai World , an executive of the bank said on Monday.
"We have sufficient confidence that w
Emirates NBD (ENBD), Dubai's largest lender, on Monday said its fourth-quarter net profit rose 8 per cent, missing analysts' forecasts as the amount set aside by the lender to meet loan losses soared.
The lender, 55.6-perc
Bad loans as a proportion of the bank's total lending book will be 14-15 percent this year, instead of a previous estimate of 15-16 percent, Surya Subramanian, chief financial officer of Emirates NBD, Dubai's largest lender, said.
Emirates NBD's (ENBD) second-quarter net profit rose 50 percent, beating analysts' forecasts, as Dubai's largest lender benefited from an recovery in the emirate's economy.
ENBD, 55.6-percent owned by state fund In
Two banks in the United Arab Emirates have signed a 900 million dirham ($245 million) loan facility to fund construction of a three-tower real estate project adjacent to Dubai's main thoroughfare.
Dubai's real estate secto
Emirates NBD, Dubai's largest lender, has completed the acquisition of BNP Paribas' Egyptian assets after receiving regulatory approval in the North African country, the bank said in a statement on Tuesday.
In December, EN