Dubai – Mubasher: Emirates NBD on Wednesday reported a 29% year-on-year rise in net profit for the first half of 2018, recording AED 5.018 billion from AED 3.894 billion.

The bank’s total income increased by 13% to AED 8.451 billion in the six-month period, compared to AED 7.453 billion in the prior-year period, Dubai’s largest lender said in a statement.

On the other hand, impairment allowances dropped by 40% to AED 755 million H1-18, versus AED 1.260 billion in H1-17.

Emirates NBD had previously posted a 15% year-on-year rise in net profit for the full-year 2017, recording AED 8.345 billion.