Emirates NBD, Dubai’s largest bank by market value, on Monday said third-quarter net profit more than tripled on the back of lower provisioning for bad loans and higher non-interest income, beating analysts’ forecasts.
Dubai Bank, which ENBD was obliged to take over last year after the Islamic bank buckled under the weight of its bad loans, will be fully integrated by year-end, with branches rebranded as ENBD’s own Islamic arm, Emirates Islamic Bank………………………………………..Full Article: Source