Published by
Al-Araby
Al-Araby
Dubai’s largest bank, Emirates NBD, announced Wednesday that its net profits jumped in 2021, as the economy of the Gulf city state rebounded following a slump due to coronavirus. The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020. It said in a company statement that the bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions. “Emirates NBD’s profits grew 34% in 2021 demonstrating the resilience of the Group’s dive…
