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FINANCIAL NEWS
Dubai’s NBD posts 6pct grow in Q2 revenue
19 Jul 2017
(MENAFN) Emirates NBD, Dubai’s major lender, recorded a 6 percent increase in its second quarter revenue, as net interest income jumped due to loan growth and higher lending rates.
Meanwhile, the bank made a net profit of USD550mn in the three months to June 30, compared with 1.91bn dirhams a year earlier.
In addition, the emirate’s economy increased at a stronger rate amid the first half of this year compared with a year earlier.
The bank’s net income enhanced 6 percent in the cited period, with the bank citing loan growth and a higher Emirates Interbank Offered Rate.
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MENAFN1907201700450000ID1095637803
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