The UAE's biggest banks are growing profits at full tilt and putting the worst of the financial crisis behind them despite tough new lending rules imposed by the Central Bank.
Emirates NBD, the UAE's biggest bank by assets, was the latest lender to report higher earnings, recording a jump in second-quarter net profit of 84.8 per cent to Dh744.4 million (US$202.6m), compared with last year's second quarter.
The improved performance was helped by falling provisions for bad debts. Impairments on financial assets fell 17.7 per cent to Dh980.9m.
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