Mubasher TV
Contact Us Advertising   العربية

Emirates NBD to increase foreign ownership limit to 40%

Emirates NBD to increase foreign ownership limit to 40%
The decision is effective starting Wednesday
Emirates NBD
EMIRATESNBD
1.16% 17.50 0.20

Dubai – Mubasher: Emirates NBD has obtained all regulatory approvals necessary for raising its foreign ownership limit to 40% from 20%, according to the bank's disclosure to the Dubai Financial Market (DFM) on Tuesday.

The decision is effective starting Wednesday, 22 July, before trading begins.

During the first half (H1) of 2020, the bank's net profits plunged by 45% to AED 4.09 billion, compared to AED 7.48 billion during the same half of 2019.