January 16, 2018 / 5:02 AM / a month ago

Dubai's Emirates NBD Q4 net profit rises 17.2 pct

DUBAI, Jan 16 (Reuters) - Emirates NBD (ENBD), Dubai’s largest lender, posted a 17.2 percent rise in fourth-quarter net profit on Tuesday.

The bank, the first major lender from the United Arab Emirates to report its earnings during the quarter, made a net profit of 2.18 billion dirhams ($593.5 million) in the three months to Dec. 31, a statement from the bank said, compared with 1.86 billion dirhams in the corresponding period of 2016.

SICO Bahrain forecast the bank to post a net profit of 2.23 billion dirhams for the quarter, while EFG Hermes expected a profit of 1.98 billion dirhams. ($1 = 3.6730 UAE dirham) (Reporting By Tom Arnold; Editing by Subhranshu Sahu)

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