Emirates to raise profits by 28% in 2017



8 minutes ago


Books – Dr. Mohamed Adel:
Emirates NBD, a subsidiary of Emirates NBD, increased its net profit by 27% to EGP 1.2 billion in 2017 compared to 2016. Total revenue increased by 30% to EGP 3.1 billion. The balance sheet of the Bank strengthened its position by 21% to reach 53 billion pounds. Strong management of operations and risks has proven to be of great importance in meeting the challenges of the Egyptian economy in 2017.
Fakhan van der Tul, CEO of Emirates NBD Egypt, said that his first-time profit exceeded one billion pounds, resulting from strong operating performance and balance sheet growth, focusing on customer satisfaction, strict risk management and digital innovation. New investments in the technology sector was renamed the Bank

To develop banking systems and services to be the most innovative bank, we will also expand our branch network throughout the country. He pointed out that revenues rose by 30% to LE 3.1 billion. Costs rose 14% to LE 152 million. Total balance sheet increased by 21% to LE 53 billion. Net customer loans rose 18% to 22 billion pounds. Total customer deposits increased by 11% to LE 38 billion, with a return on average equity of 31.88% and a capital adequacy ratio of 13.26% at the end of 2017.

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