Dubai’s Emirates NBD Q1 Net Profit Jumps 25%

The lender made a net profit of Dhs1.04 billion ($283.7 million) in the three months to March 31, a statement from the bank said.



Emirates NBD, Dubai’s largest lender, said on Thursday its first-quarter net profit rose 25 per cent on the back of both interest and fee income, beating analysts’ forecasts.

The lender, 55.6 per cent owned by state fund Investment Corp of Dubai, made a net profit of Dhs1.04 billion ($283.7 million) in the three months to March 31, a statement from the bank said, compared to Dhs837 million in the same period last year.

An average of six analysts polled by Reuters forecast a net profit of Dhs904.1 million for the first quarter.

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