Dubai – Mubasher: A total of 101.73 million shares of Emirates NBD were purchased by 254 investors on 28 May 2020, according to the bank's disclosure to Dubai Financial Market (DFM) on Thursday.

The bank commented on recent reports that Bank of America is set to acquire a 1.5% stake in the UAE's largest bank in terms of assets.

Emirates NBD referred that one of the investors bought 10.116 million of its shares, marking the largest purchase by a single investor.

A large number of these purchases were made by Emerging Markets Index Tracking Funds, coinciding with the bank’s inclusion in the ‘MSCI Emerging Markets Standard Index’.

During the first quarter (Q1) of 2020, the bank's profits declined by 24% year-on-year (YoY) to AED 2.1 billion.