Emirates NBD declares 25pc dividend
Dubai, March 7, 2013
Emirates NBD, a leading bank in the region, has approved distribution of 25 per cent cash dividend for the year ended December 31, 2012 at its sixth Annual General Meeting (AGM) at the bank’s headquarters.
“The UAE has once again emerged as a leader, with an economy that proved to be strong and resilient in spite of the challenges that continue to arise from the global economic pressures,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates NBD.
“The growth in the UAE has been possible due to the wise and visionary leadership of the UAE government, which has introduced several measures that have aided in boosting the economy to perform as well as in the previous years. The non-oil sector has improved in the past year, allowing the UAE to remain well-positioned to profit from the trading and tourism sectors.”
“Emirates NBD’s results for 2012 reflect a very positive operational performance and demonstrate the Bank’s strength in solidifying its position as a leading financial institution in the region,” Sheikh Ahmed continued.
“Moreover, the UAE and Dubai in particular, have shown resilience and solid growth during the year and Emirates NBD is well-placed to continue to capitalise on this improving economic backdrop. The bank had adopted a conservative approach during 2012, and it will continue to do so in the coming year.”
Emirates NBD recorded a net profit of Dh2.6 billion ($707.6 million) for 2012, up 3 per cent compared with the prior year.
Earnings per share for the year stood at Dh0.41, while the bank recorded revenues of Dh10.2 billion, up 3 per cent over 2011. – TradeArabia News Service
More Finance & Capital Market Stories
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia