Emirates NBD: Total income increased on 27 %
Dubai: Emirates NBD Group informed that the total income for the first quarter of 2014 amounted to Dh3.33 billion. It was compared with Dh2.63 billion in the same period of 2013. The increase was around 27 per cent.
Customer loans as at 31 March 2014 were Dh239.7 billion and customer deposits as at 31 March 2014 amounted to Dh251.5 billion, an increase of 5 per cent from 31 December 2013.
Costs for the quarter of 2014 were Dh1 billion, an increase of 14 per cent over the same period of the previous year and a decline of 14 per cent compared to the quarter of 2013. The improvement in costs compared to the quarter of 2013 and it is due to a decrease in staff related costs and a number of one-off costs. The cost to income ratio increased around 3.7 per cent in the first quarter of this year compared to the same period of 2013.
The bank’s consumer banking and administration of estates reported a strong solution, with income growth of 13 per cent for the quarter of this year what was Dh1.3 million compared to Dh1.2 billion in the same quarter of last year.
Walton Consultants DMCC