Emirates NBD's Q3 profit rises 37 pct, ahead of two forecasts

Emirates NBD's Q3 profit rises 37 pct, ahead of two forecasts:

"Emirates NBD (ENBD), Dubai’s largest lender, posted a 37 percent rise in third-quarter net profit on Monday as impairments tumbled and operating income rose.

The bank, the last major lender from the United Arab Emirates to report its earnings during the quarter, made a net profit of 2.28 billion dirhams ($620.78 million) in the three months to Sept. 30, a statement from the bank said, compared to 1.66 billion dirhams in the corresponding period of 2016.

That was ahead of the forecasts of two analysts. EFG Hermes expected the bank would make a net profit of 1.85 billion dirhams, while SICO Bahrain estimated 1.89 billion dirhams."



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