Emirates NBD shares record the highest price since listing

Emirates NBD Bank shares recorded 21.85 dirhams during today’s session, achieving its highest price since listing.

An hour and a half after the start of trading in the Dubai market, the stock rose by 7% to 21.20 dirhams, with trades exceeding 5 million shares.

The financial results of Emirates NBD Bank had previously shown stable net profit in the third quarter of this year, as an increase in net interest income was offset by an increase in impairment provisions and investments to drive future growth.

The data showed that net profit in the period from July to September 2024 amounted to 5.2 billion dirhams ($1.42 billion), unchanged from the corresponding period in 2023.

The bank, which is majority owned by the Dubai government, announced that net interest income rose by 8% to 8.5 billion dirhams, while unfunded income decreased by 15% to 3 billion dirhams.

At the same time in today’s trading, the share of the largest bank in Dubai in terms of assets rose with the jump recorded by the share of “Emaar Properties” to the maximum level of 11 dirhams, after the company announced its intention to distribute 100% of the capital, with a total of 8.8 billion dirhams, in 2024. Framework for adopting a new policy for distributions.

At the same time, the Dubai Financial Market Index also breached the level of 4981.88 points for the first time since 2014, and jumped 3%.