Dubai bank Emirates NBD posts 4% rise in Q1 net profit

The bank made a net profit of Dhs1.87bn in the three months to March 31



Emirates NBD (ENBD), Dubai’s largest lender, posted a 4 per cent rise in first-quarter net profit on Wednesday.

The bank made a net profit of Dhs1.87bn ($509m) in the three months to March 31, a statement from the bank said, compared to Dhs1.81bn in the corresponding period of 2016.

The bank, 55.6 per cent owned by state fund Investment Corp. of Dubai and viewed as a barometer for the health of the Dubai economy, said the results were ‘underpinned by a control on expenses and an improved cost of risk.’

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