The financial statements of Emirates NBD revealed that the bank's profits in the second quarter of this year increased by 42.4% on an annual basis.
According to the bank's results, profits for the period amounted to 3.50 billion dirhams, compared to 2.46 billion dirhams, profits for the second quarter of last year.
The bank’s profits in the first half of this year amounted to 5.30 billion dirhams, compared to 4.78 billion dirhams in the same period in 2021, an increase of 11%.
The reason for the increase in profits during the first half of 2022 is due to the increase in total operating income by about 23% to reach 14,205.3 million dirhams, compared to 11539.8 million dirhams during the same period in the previous year.
It is also due to the decrease in provisions for impairment of financial assets by 28% to reach 1881.2 million dirhams, compared to 2614.4 million dirhams during the first half of 2021.
