Emirates NBD Profits Rise in 2017

by Forbes Middle East Forbes Middle East - Business News

Emirates NBD, Dubais largest lender, has posted a net profit of $2.27 billion in 2017, a 15% rise from the $1.97 billion it reported in 2016.

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According to a statement from the bank, the results were driven by loan growth and interest rate rises.
Emirates NBD Group CEO Shayne Nelson said the yearly figures were underpinned by higher income, a control on expenses and a lower cost of risk.
Based on the results, Emirates NBDs board has recommended a 2017 dividend of 40 fils per share ($0.11).
As a leading bank in the region and a front-runner in digital banking innovation with a strong balance sheet, we are well placed to take advantage of growth opportunities in our preferred markets, said Emirates NBDs Chairman, H.H. Sheikh Ahmed Bin Saeed Al Maktoum, in a statement.