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The last strike, in 2008, lasted 57 days
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NBD earns Dh622m in first three quarters
DUBAI - The National Bank of Dubai (NBD) has reported Dh622 million in net profit for the first nine months of 2004, down by more than 10 per cent compared to the same period last year.
The bank has attributed the lower net profit during first three quarters this year to lower exceptional income arising from sale of securities. Income from sale of securities this year was Dh106 million at the close of the third quarter while it was Dh208 million during the same period last year.
NBD's third quarter profit was up 46 per cent compared to the second quarter this year. Excluding exceptional income arising from sale of securities both in 2004 and 2003, net profit from the bank's core businesses increased by Dh32 million to Dh517 million at the close of third quarter this year from Dh485 million during the first three quarters last year.
NBD has attributed the increased income to growth in corporate and trade finance business volumes. Cost to income ratio remained at 2003 levels. The earning per share (EPS) increased to Dh5.76.
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