Emirates NBD reports Dh7 billion net profits in 2020

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(The Gulf News)

Emirates NBD, a leading banking group in the region, reported a net profit of Dh7 billion in 2020, down 52 per cent year on year.

The decline in net profit was driven by higher provisions and no repeat of the gain on disposal of Network International shares in 2019. Net profit was down 31 per cent excluding the Network International gain in 2019.

Total income for 2020 amounted to Dh23.21billion, an increase of 4 per cent compared with Dh22.41 billion in 2019.

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