Dubai-Mubasher: Emirates NBD reported a 15.8% rise in its profits for the second quarter of 2016, according to a bourse statement.

Profits reached AED 1.91 billion ($520 million) in Q2-16, compared to AED 1.65 billion ($449 million) in Q2-15.

In the first half of 2016, net profits went up 12.1% to AED 3.72 billion from AED 3.32 billion achieved in the same period a year earlier.

Operating income reached AED 7.67 billion in H1-16, compared to AED 7.55 billion in H1-15

 “Emirates NBD continued to deliver further improvements in asset quality, whilst strengthening its structural liquidity and capital ratios. Our solid financial and operating performance, along with our leadership in digital banking innovation, were also recognised in this year’s Euromoney for Excellence awards, reinforcing our position as the leading bank in the region,” according to the bank’s vice chairman and managing director Hesham Abdulla Al Qassim.

“The Group’s improved and resilient financial profile was also reflected in the recent upgrade of Emirates NBD’s long-term rating to A3 by Moody’s,” Emirates NBD’s CEO Shayne Nelson said, adding that “We also announced our intention to invest AED 500 million over the next three years towards digital innovation as we look to launch the UAE’s first digital bank for millennials.