Reports
Emirates NBD Says Logs "Robust" Private Banking Results
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The Middle East group, which provides services including private banking, issued results for the first six months of this year.
The retail and wealth management arm of Emirates NBD, the
Middle East banking group, said it logged total income of
AED3.933 billion ($1.07 billion) in the first half of 2019,
rising by 8 per cent on a year ago, driven by growth in net
interest income.
Fee income rose by 3 per cent from the same period a year ago, it
said in a statement yesterday.
Emirates NBD said this business division "continued to focus on
higher value customers". Private banking "delivered a robust set
of financials during the first half of 2019, despite a volatile
global market environment", it said.
Across the whole group, Emirates NBD delivered a rise in net
profit of AED7.5 billion, up by 45 per cent year-on-year. The
results include a gain on disposal of a stake in Network
International of AED2.1 billion.
