2023-07-04 10:57:37
Mohamed Shaker – Mubasher: Emirates NBD Bank, which is listed on the Dubai Financial Market, jumped during trading today, Tuesday, to record the highest price since the listing.
During today’s trading, and by 2:50 pm UAE time, the share rose by 4.24 percent, reaching a price of 15.95 dirhams.
According to market data, the stock witnessed transactions of 6.009 million shares, at a value of 95.480 million dirhams, distributed over 1373 transactions.
During the morning trading today, Tuesday, the Dubai Financial Market index crossed the level of 3928 points, thus enabling it to exceed the level of 3900 points for the first time since August 2015.
Emirates NBD’s net profit at the end of the first quarter of this year amounted to 6 billion dirhams, a growth rate of 119% compared to the same period last year.
Net interest income jumped by 70% to 7.2 billion dirhams, and the bank’s provisions fell 66% to about 500 million dirhams, by the end of the first quarter of this year.
The ratio of non-performing loans decreased to 5.6% at the end of the first quarter of this year, from 6% during the same period last year, and the ratio of coverage of impaired loans increased to 152% from 145% during the same period last year.
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