Emirates NBD PJSC (EMIRATES), the United Arab Emirates’ biggest bank by assets, reported a 27 percent increase in first-quarter profit helped by a gain from the sale of a stake in its credit card processing unit.
Net income advanced to 1.41 billion dirhams ($385 million), or 24 fils a share, from 1.1 billion dirhams, or 19 fils, a year ago, the Dubai government-controlled bank said in a statement today. Emirates NBD on its website said the mean estimate of seven analysts was for a profit of 1.03 billion dirhams.
Having “successfully addressed significant challenges during the last few years, the bank is in a strong position to take advantage of further expected improvements in the business environment,” Chairman Ahmed Al Tayer said in the statement.
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