By: Amr Adel

Dubai – Mubasher: The annual general meeting (AGM) of Dubai-listed Emirates NBD approved on Wednesday a 35% dividend to shareholders, amounting to AED 0.35 per share for the fiscal year ended 31 December 2014.

The board of directors had recommended on 18 January increasing cash dividends for 2014 to AED 0.35 per share against AED 0.25 per share in 2013.

Emirates NBD succeeded in achieving an annual pre-impairment operating profit worth AED 10 billion, prompting the board to propose the dividend increase, said Sheikh Ahmed bin Saeed Al Maktoum, Emirates NBD board chairman.

The bank’s network includes 215 branches and over 889 ATMs in the UAE and abroad.

Emirates NBD’s total assets as at 31 December 2014 reached AED 363 billion.

The bank reported a net profit of AED 5.1 billion in 2014, up 58% compared to 2013. Moreover, it reported a net profit of AED 1.23 billion in the fourth quarter of 2014 compared to AED 673 million in the same period the year before.

The bank’s capital amounts to AED 5.557 billion, divided on 5.557 billion shares at par value AED 1 per share. Its brand was valued at AED 1.8 billion.

Translated by: Nada Adel Sobhi