Emirates NBD shares jump to the highest close since its listing on the Dubai Financial Market

Emirates NBD Bank’s shares, listed on the Dubai Financial Market, jumped at the beginning of today’s session, by 2.3%, to record its highest level since listing at 22 dirhams, after recording its highest close since listing at 21.85 dirhams at the end of the sixteenth session of last December.

In the first hour of today’s session, Emirates NBD’s stock jumped to a new record high with trading exceeding 17.7 million dirhams.

This came as the Dubai Financial Market Index exceeded the level of 5,200 points, reaching at that hour of trading on Tuesday the level of 5,215 points, which is the highest level since May 2014.

The profits of Emirates NBD Bank, which is considered the largest bank in terms of assets in Dubai, rose to 18.99 billion dirhams by the end of the first nine months of 2024, by 9% compared to the profits of the same period in 2023.

The reason for the increase in profits during the first nine months of last year is the achievement of a net reversal of impairment entries of 1.34 billion dirhams, compared to recording provisions of 1.50 billion dirhams at the end of the first nine months of 2023, in addition to the decline in losses from inflation adjustments on the net cash position by 24%, to reach To 2.41 billion dirhams, compared to 3.16 billion dirhams during the same period last year.

It is also due to the increase in total operating income to 32.88 billion dirhams, compared to 32.72 billion dirhams at the end of the similar period in 2023.