Dubai – Mubasher: Emirates NBD has inked an agreement to sell a controlling interest in Dubai Bank to Eradah Capital.

Expected to be completed during 2021, the transaction is subject to regulatory approval by the Central Bank of the UAE (CBUAE), according to the bank's disclosure to the Dubai Financial Market (DFM) on Wednesday.

It is noteworthy to mention that in 2020, the bank's net profits decreased by 52% to AED 6.965 billion from AED 14.504 billion a year earlier.