Emirates NBD's second-quarter profit surges on asset sale, forex gains - Reuters

Emirates NBD's second-quarter profit surges on asset sale, forex gains - Reuters:

Emirates NBD (ENBD.DU), Dubai’s largest bank, on Wednesday reported an 80% rise in second-quarter net profit helped by the sale of a stake in Network International (NETW.L) and strong non-interest income on foreign exchange gains.

The result included a gain of 2.1 billion dirhams ($572 million) from the sale of a stake in digital payment provider Network International in an initial public offering in London in April.

The earnings showed that top banks in the United Arab Emirates have still withstood strains from a sluggish economy and a property downturn in Dubai.