Arab Today, arab today emirates nbd announces first half 2014 results
Last Updated : GMT 19:06:35
Arab Today, arab today
Arab Today, arab today

Emirates NBD announces first half 2014 results

Arab Today, arab today

Arab Today, arab today Emirates NBD announces first half 2014 results

Emirates NBD
Dubai - WAM

Emirates NBD has delivered an impressive set of financial results with net profit up 30% year on year to Dh2.35 billion.
The strong operating performance for the first half of 2014 was helped by solid revenue growth in both Retail Banking and Wealth Management and its Islamic Banking subsidiary, Emirates Islamic, which has successfully transformed itself to be one of the fastest growing segments within the group.
Net profit for the half-year ended 30th June 2014 amounted to Dh2.35 billion, up 30% from H1-13. Total Income for H1-14 grew by 27% to Dh7.04 billion, whilst Pre-Impairment Operating Profit forH1-14 improved by 35% to Dh4.91 billion.
Total assets grew by 2% to Dh348.3 billion in the first half of 2014. Customer loans increased by 1% during the first half of 2014 to Dh241.8 billion. Customer deposits also increased by 6% to Dh252.9 billion over the same period.
The Bank's Advances to Deposits ratio improved to 95.6% from 99.5% at the end of 2013. The Bank's NPL ratio improved further to 13.5% whilst the Tier 1 ratio strengthened to 15.6%. Backed by this stronger liquidity and capital profile, on 20th July 2014, Emirates NBD were able to repay the remaining Dh4.8 billion Ministry of Finance Deposits received in 2008.
Group Chief Executive Officer, Emirates NBD, Shayne Nelson, said, "During the first half of 2014, we have delivered another healthy set of results, with net profit up by 30% to Dh2.35 billion. This is driven by strong growth in both net interest income and non-interest income coupled with a firm control on expenses. As a result, the bank is in a healthier position than at the beginning of 2014 in each of these areas. I am confident that the Bank will continue to deliver excellent service to our customers and superior value to our shareholders." Emirates Islamic (EI) continued to show a steady performance with total income increasing by 28% to Dh918 million from Dh717 million for H1-13. Net financing and investing receivables grew by 4% to Dh23.8 billion from the end of 2013. As at 30th June 2014, the branch and ATM/SDM network of EI totalled 53 and 176 respectively.
EI growth continued with a net profit of Dh226 million compared to Dh112 million in H1-13, leveraging its expanded platform to better serve its Retail, SME and Corporate customers.
EI also contributed to an increase in fee income due to higher customer account volumes. EI recently introduced a trading platform for Murabaha in partnership with NASDAQ Dubai. This new initiative is starting to generate fee income.
The Bank's success continued to be recognised across the industry, with EI winning Best Premium Islamic Card and Best Self Employed Finance at the CPI Financial in early 2014.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates nbd announces first half 2014 results Arab Today, arab today emirates nbd announces first half 2014 results

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates nbd announces first half 2014 results Arab Today, arab today emirates nbd announces first half 2014 results

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday