Arab Today, arab today emirates nbd income soars 40 amid positive economic momentum
Last Updated : GMT 10:43:53
Arab Today, arab today
Arab Today, arab today

Emirates NBD income soars 40% amid positive economic momentum

Arab Today, arab today

Arab Today, arab today Emirates NBD income soars 40% amid positive economic momentum

Dubai - XINHUA

Emirates NBD, Dubai\'s biggest lender, said on Monday that its profits for the first half-year increased by 40.37 percent year on year, amounting to 1.808 billion Dirham ( 493.09 million U.S. dollars), with the lender benefiting from Dubai\'s economic comeback. The net profit for the second quarter was 972 million Dirham ( 265 million dollars), representing a 50 percent increase compared to the same quarter last year. Both interest income and non-interest income increased by 17 percent, Emirates NBD, whose shares are listed on the Dubai Financial Market (DFM), said in an e-mailed statement. In a further indication that the Gulf Arab region\'s second biggest lender (after Qatar National Bank) by assets left the crisis behind, Emirates NBD said it repaid during the last six months 1.3 billion Dirham (354.51 million dollars) of subordinated debt and 7.8 billion Dirham (2.12 billion dollars) to the ministry of finance. The latter was amount Emirates NBD received in 2009 when liquidity in the UAE banking market dried up in the wake of the global financial crisis. The results are a reflection of positive momentum the UAE economy has been witnessing this year. The Dubai economy alone grew 4.7 percent in the second quarter, the government said on Sunday, driven by a surge in trade, tourism and a revived industrial production. Due to the improved macro-economic conditions at home, the bank is on the expansion course again. On June 9, ENBD acquired a 95.2 percent stake in BNP Paribas Egypt. In September last year, ENBD opened a representative office in Beijing and in February this year it introduced Renminbi trading in order to bank on the raising trade ties between the Gulf Arab region and China. Emirates NBD appointed on June 25 former Standard Chartered Middle East chief executive Shayne Nelseon CEO. Nelson, an Australian national, succeeds Rick Pudner who retired after leading ENBD for seven years. Investors reacted positively to the half-year results. ENBD shares gained over 3 percent in early Monday trading at the DFM.

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 income soars 40 amid positive economic momentum Arab Today, arab today emirates nbd income soars 40 amid positive economic momentum

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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