Net profit of Emirates NBD drop 41% in Q2.
The net profit of Emirates NBD dropped by 41% y/y to AED 852mn in Q2 this year 'due to the prudent credit impairment allowances taken by the bank during the year, the bank's CEO Rick Pudner, said.
The net profit of Dubai developer Deyaar fell 69.5% y/y to reach AED 75.4mn in Q2 this year, as the emirate's real estate sector continued to suffer a sharp slowdown, the company said in a statement.