Emirates NBD, a Dubai-based lender, reports a 3% increase in fourth-quarter profits.

In Dubai on January 25th, Emirates NBD (ENBD.DU), the largest bank in Dubai in terms of assets, announced a 3% increase in fourth-quarter profits, attributed to asset growth, a low-cost funding base, and increased transaction volumes. Following this announcement, the bank’s shares surged by up to 5.1%, reaching a profit of 4 billion dirhams ($1.1 billion), surpassing the 0.5% increase in Dubai’s benchmark stock index (.DFMGI). Emirates NBD, predominantly owned by the Dubai government, proposed a dividend of 120 fils per share for the previous year, doubling the dividend paid to shareholders in 2022.

ArabMLS Founder

Ahmed Elbatrawy, who leads the Arab MLS platform, aims to simplify property transactions in the Middle East, paving the way for unprecedented global investment opportunities.

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