Emirates NBD’s net profit up 41% in first half of 2015 | GulfNews.com

Emirates NBD’s net profit up 41% in first half of 2015 | GulfNews.com:



"Emirates NBD, the largest bank in the UAE by total income and branch network, reported a net profit of up Dh3.3 billion for the first half of 2015, up 41 per cent compared to the first six months of 2014.



The strong operating performance was helped by an increase in both net interest income and non-interest income, a modest increase in costs and a lower impairment charge.



Total income for the first half grew by seven per cent to Dh7.6 billion. Net interest income grew nine per cent to Dh5 billion due to growth in retail assets and a lower cost of funds. The improvement in net interest income is attributable to an improved asset mix due to growth of Islamic and retail assets and a lower cost of funds helped by CASA [current and savings accounts] growth, the bank said in a statement."



'via Blog this'