Emirates NBD , Dubai's largest bank by market value, on Monday said its second-quarter net profit surged 87 percent helped by a drop in loan loss provisions and improved income from investment securities.
The lender, which reshuffled its board last month, made a net profit of 744 million dirhams ($202.6 million)for the three month period ending June 30, compared with 398 million dirhams in the prior-year period.
Four analysts polled by Reuters had estimated an average profit of 746.3 million dirhams for the second quarter.
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