Dubai – Mubasher: The net profits attributable to the equity holders of Emirates NBD increased to AED 2.321 billion in the first three months of the year from AED 2.079 billion in the year-ago period, according to the consolidated interim financials for the three-month period ended 31 March 2021.

Higher profits are attributed to the improving economic conditions with DenizBank adding significant diversification to the group.

The bank's net income from Islamic financing and investment products reached AED 403.267 million in the first quarter (Q1) of 2021, up from AED 381.582 million in the same quarter of 2020.

Meanwhile, the bank's total assets amounted to AED 695.058 billion in Q1-21, compared to AED 698.087 billion as of 31 December 2020.

The bank's earnings per share (EPS) settled at AED 0.34 in the January-March period of 2021, compared to AED 0.31 in the same period of the earlier year.

It is noteworthy to mention that in 2020, the bank posted net profits of AED 6.965 billion, down by 52% year-on-year (YoY) from AED 14.504 billion a year earlier.