Emi­rates NBD stake­hold­ers ap­prove 40pc div­i­dend

The Pak Banker - - FRONT PAGE -

Emi­rates NBD held its ninth An­nual Gen­eral Meet­ing (AGM) to­day. At the AGM, Emi­rates NBD Chair­man, Shaikh Ah­mad Bin Saeed Al Mak­toum, pre­sented a re­view of the year ended De­cem­ber 31 2015.

"The UAE pri­vate sec­tor econ­omy has re­mained re­silient in 2015, and with new projects be­ing planned, from theme parks, ho­tels and in­fra­struc­ture in the run up to Expo 2020, we can an­tic­i­pate fur­ther healthy growth. The vi­sion­ary lead­er­ship of the UAE govern­ment has in­tro­duced and im­ple­mented sev­eral ini­tia­tives, which will en­sure sus­tain­able growth in the UAE and re­in­force its po­si­tion as a ma­jor eco­nomic power in the re­gion. In ad­di­tion, our pru­dent and re­spon­sive mon­e­tary pol­icy will hold us in good stead for con­tin­ued growth and de­vel­op­ment," Shaikh Ah­mad said.

Last month Emi­rates NBD had re­ported a net profit of Dh7.1 bil­lion for 2015, up 39 per cent com­pared to 2014. Shaik Ah­mad said Emi­rates NBD has a very pos­i­tive out­look for the year ahead, backed by strong as­set growth, an in­crease in in­come, con­trol on ex­penses and a sig­nif­i­cant im­prove­ment in the cost of risk, all con­tribut­ing strong op­er­at­ing per­for­mance. "De­spite a more chal­leng­ing year for re­gional liq­uid­ity, the bank's bal­ance sheet re­mains strong due to fur­ther im­prove­ments in credit qual­ity, strong struc­tural liq­uid­ity and ro­bust cap­i­tal ra­tios," he said.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.