Real estate related economic and financial news covering the MENA region.
Emirates NBD shares dive as first quarter profit increases slightly
Apr 25, 2012
The Dubai bourse DFM fell 0.59% Wednesday, closing at 1,660.26, as Emaar (off 0.61% at Dhs3.28) and Tamweel (down 1.56% at Dhs1.26) weighed on the measure. The UAE's largest lender Emirates NBD plummeted 2.77% to Dhs2.81. Earlier in the day, ENBD its first quarter profit increased 19% to hit Dhs641m. While customer loans where almost unhachanged at Dhs204.1bn, total assets were up 4% at Dhs296.7bn. District cooling specialist Tabreed gained the most (up 992% at Dhs1.44. Trading volumes remained solid, as 300m shares were traded, valued at Dhs448.5m.