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Emirates NBD sees 29% higher profits in 9M

Emirates NBD sees 29% higher profits in 9M
The bank's assets rose to AED 699.067 billion
Emirates NBD
EMIRATESNBD
-1.10% 13.45 -0.15

Dubai – Mubasher: The consolidated interim financials of Emirates NBD reported AED 7.285 billion net profits attributable to the equity holders during the first nine months of 2021, up 29% from AED 5.64 billion in the year-ago period.

The bank's net interest income and income from Islamic financing increased by 6% to AED 12.595 billion in the January-September period of 2021, compared to AED 13.443 billion in the same period of 2020.

The bank's assets rose to AED 699.067 billion as of 30 September 2021 from AED 698.087 billion as of 31 December 2020.

The earnings per share (EPS) settled at AED 1.08 in the first nine months of 2021, versus AED 0.82 in the corresponding period of the earlier year.

During the third quarter (Q3) of 2021, the bank recorded net profits of AED 2.5 billion, compared to AED 1.556 billion in the same quarter of 2020.

The Vice-Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, commented: "Emirates NBD’s growth in income and profitability in the third quarter of 2021 is a clear sign of improving economic conditions within the region."

The Group CEO, Shayne Nelson, said: "International expansion continues with additional branches in the Kingdom of Saudi Arabia, approval for further branches in India, and strong results in Turkey."

It is noteworthy to mention that during the first half (H1) of 2021, the bank's net profits attributable to the equity holders increased to AED 4.78 billion from AED 4.087 billion in the year-ago period.