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Wednesday, 19 July 2017

UPDATE 1-Dubai's Emirates NBD Q2 profit rises 6 pct, meets forecasts

UPDATE 1-Dubai's Emirates NBD Q2 profit rises 6 pct, meets forecasts:

"Emirates NBD (ENBD), Dubai's largest lender, posted a 6 percent rise in its second-quarter net profit on Wednesday, in line with analysts' forecasts, as net interest income edged up due to loan growth and higher lending rates.

The bank, the first major lender from the United Arab Emirates to report its earnings this quarter, made a net profit of 2.02 billion dirhams ($550 million) in the three months to June 30, it said in a statement, compared with 1.91 billion dirhams a year earlier.

Three analysts on average had forecast the bank to post a net profit of 1.88 billion dirhams."



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