DUBAI, July 24 (Reuters) - Emirates NBD, Dubai’s largest lender, has revised upwards its net interest margin (NIM) guidance for 2014, a results presentation from the bank showed On Thursday.
The bank now expects NIM - the amount it makes on its lending above the original cost of funds - of between 2.7 and 2.8 percent, up from the previous guidance of 2.5-2.6 percent.
ENBD cited “successful balance sheet optimisation” for the change. It did not elaborate.
The bank’s NIM at the end of the second quarter was 2.77 percent, 0.03 percentage point better than the level at the end of March 2014 and 0.33 percentage point higher than at the same point in 2013. (Reporting by David French; Editing by Andrew Torchia)