Emirates NBD reveals 44% increase in net profit to record $3.9bn - Arabianbusiness

Emirates NBD reveals 44% increase in net profit to record $3.9bn - Arabianbusiness:

Emirates NBD has revealed a 44 percent increase in net profit to a record AED14.5 billion ($3.9bn) for 2019.

Financial results released through the Dubai Financial Market (DFM) on Monday revealed a 29 percent increase in total income to AED22.4bn ($6.1bn), due to loan growth and higher fee income.

Net interest was up 26 percent due to loan growth, while non-interest income grew 38 percent as a result of higher foreign exchange and credit card related income. 


Core operating profit increased by four percent year-on-year, helped by the completion in July of a deal that saw Dubai's biggest lender acquire a 99.85 percent stake in Turkey's DenizBank.