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Dubai's Emirates NBD Q1 net profit jumps 25 pct
April 24, 2014 / 4:57 AM / 3 years ago

Dubai's Emirates NBD Q1 net profit jumps 25 pct

DUBAI, April 24 (Reuters) - Emirates NBD, Dubai’s largest lender, said on Thursday its first-quarter net profit rose 25 percent on the back of both interest and fee income, beating analysts’ forecasts.

The lender, 55.6-percent owned by state fund Investment Corp of Dubai, made a net profit of 1.04 billion dirhams ($283.7 million) in the three months to March 31, a statement from the bank said, compared to 837 million dirhams in the same period last year.

An average of six analysts polled by Reuters forecast a net profit of 904.1 million dirhams for the first quarter. ($1 = 3.6730 UAE Dirhams) (Reporting by Olzhas Auyezov; Editing by David French)

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