Loan growth, higher margins boost Emirates NBD Q4 net profit | Reuters:
Emirates NBD, Dubai’s largest bank, on Wednesday reported a 10 percent rise in fourth-quarter net profit as loan growth and improved margins offset lower income from investment securities and higher expenses.
The bank, the first United Arab Emirates lender to report quarterly results, made a net profit of 2.39 billion dirhams ($650.7 million) in the three months ended Dec. 31, 2018, compared with 2.18 billion dirhams in the year-ago period.
EFG Hermes forecast a net profit of 2.33 billion dirhams, while SICO had expected the lender to post a profit of 2.51 billion dirhams.
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