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