Business Services Industry
National Bank of Dubai records healthy growth of 29.1% in net profits for first half 2007.
Middle East and North Africa Business Report, July, 2007
Jul. 31--National Bank of Dubai reported a net profit of AED 651 million for the first half of 2007, recording strong growth of 29.1% over first half 2006 results of AED 504 million. NBD's favourable performance was achieved through robust growth in the bank's core commercial business which continued to perform above expectations. Earnings per Share (EPS) increased to AED 0.42 in H1 2007 from AED 0.32 in H1 2006.
Net interest Income grew by 29% relative to first half of 2006 to AED 765 million, well supported by healthy growth in loans and customer deposits. Other income at AED 470 million in H1 2007 was 68% higher (AED 279 million) than the same period last year, contributed to largely by increased fees and commission revenue from the strong growth of both...
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