by Amruth Sundarkumar | May 19, 2022 | Banks, Credit Ratings
Emirates NBD (ENBD) was upgraded to A2 from A3 by Moody’s, driven by the upgrade to ENBD’s Baseline Credit Assessment (BCA) and Adjusted BCA. This comes on the back of a “significant decline in related party exposures” to AED 140bn ($38.1bn) as...
by Amruth Sundarkumar | Apr 22, 2022 | Banks
Dubai banking major Emirates NBD, reported net profits of AED 2.7bn ($735mn), an 18% jump YoY and its highest quarterly figure since 2019. Total income stood at AED 6.4bn ($1.7bn), up 3% YoY with international operations contributing 37% of it – this was thanks...
by Amruth Sundarkumar | Jan 27, 2022 | Banks
Emirates NBD reported a 34% YoY rise in its 2021 profits to AED 9.3bn ($2.5bn). The bank’s total income grew 3% to AED 23.8bn ($6.5bn) with international operations contributing 38% of it in 2021. Provisions for the year fell 26% to AED 5.9bn ($1.6bn), helping...
by Amruth Sundarkumar | Oct 21, 2021 | Banks
UAE’s largest lender Emirates NBD reported a solid 61% and 29% growth in net profits to AED 2.5bn and AED 7.3bn for Q3 and 9M2021 respectively. The strong earnings were boosted by lower provisions, down 49% and 42% to AED 1.1bn and AED 3.7bn respectively. Cost...
by Megha Malhotra | Aug 25, 2021 | Financial Institutions, Perpetual Bonds
Moody’s has changed the outlook for long term bank deposits and senior unsecured ratings of Dubai based lender Emirates NBD (ENBD) to stable from negative. The rating agency affirmed the A3 long-term deposit ratings and A3 senior unsecured rating of Emirates NBD. It...
