Emirates NBD's net profits rose during the second quarter of this year.
Data from Dubai's largest bank by assets showed on Thursday that second-quarter net profits rose 13 percent year-on-year.
The bank attributed the increase in profits to several factors, including loan growth and the positive performance of its unit, Emirates Islamic Bank.
Net profit for the April-June period was Dh7.1 billion ($1.93 billion), the first time ever that quarterly profits have exceeded Dh7 billion, up from Dh6.2 billion in the same period in 2023, beating analysts’ average estimates of Dh5.3 billion, according to data from the London Stock Exchange Group.
During the first half of this year, Emirates NBD recorded record profits of AED 13.8 billion, compared to 12.3 percent in the first half of 2023, an increase of 12 percent.
Lending rose by a record AED 23 billion compared to the same period a year ago, reaching AED 130 billion.
Deposits also grew by AED 30 billion.
