Dubai's Emirates NBD Q1 net profit up 27% | ZAWYA MENA Edition:
"Emirates NBD (ENBD), Dubai's largest lender, posted a 27 percent rise in first-quarter net profit on Wednesday, boosted by loan growth, improved margins and slimmer provisions for bad debt.
The bank, the first major lender from the United Arab Emirates to report its earnings during the quarter, made a net profit of 2.39 billion dirhams ($651 million)in the three months to March 31, a statement from the bank said, compared with 1.87 billion dirhams in the corresponding period of 2017.
The bank's earnings beat analyst estimates, with SICO Bahrain estimating a profit of 2.08 billion dirhams and EFG Hermes expecting a profit of 2.14 billion dirhams."
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