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Emirates NBD posts 31% jump in Q1 net profit
- United Arab Emirates: Saturday, April 27 - 2013 at 05:11
Dubai's largest bank by market value Emirates NBD has reported a 31% jump in its first-quarter net profit on the back of lower impairments, Reuters has reported. The lender made a net profit of Dhs837m ($227.9m) in the three months to March 31, compared with Dhs641m in the same period last year. Loans and advances stood at Dhs220.6bn at the end of March, up 1% on the end of 2012. Loan provisions for the quarter stood at Dhs888m, down from the Dhs1.1bn recorded by the bank a year earlier.
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