Economics
Emirates NBD Quarterly Profit Rises 27%, Sees Lending Rise
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Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, said it aims to boost lending this year as liquidity improves and economic growth accelerates after reporting a 27 percent rise in first-quarter profit.
Net income advanced to 1.41 billion dirhams ($385 million), or 24 fils a share, from 1.1 billion dirhams, or 19 fils, a year ago, the Dubai government-controlled bank said in a statement today. Emirates NBD said on its website the mean estimate of seven analysts was for a profit of 1.03 billion dirhams.