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Wednesday, 3 August 2016

Emirates NBD in strong position to weather liquidity crunch: Moody’s | GulfNews.com

Emirates NBD in strong position to weather liquidity crunch: Moody’s | GulfNews.com:

"Emirates NBD, the largest bank in the UAE in terms of deposits, loans and branches, is well positioned to weather the tightening of liquidity, according to rating agency Moody’s.

The large retail franchise within the diversified Dubai economy and broad debt market access places the bank in a stronger position than most UAE peers to sustain the ongoing liquidity tightening in the region caused by low oil prices, said Moody’s Investors Service in a report published on Wednesday.

The bank reported a net profit of Dh3.71 billion for the first six months of 2016, up 12 per cent year on year. For the second quarter of the year, the bank’s net profits improved 16 per cent year on year and 6 per cent quarter on quarter to Dh1.91 billion."



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