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[size=36]Dubai's biggest lender jumps as foreign ownership increases[/size]
Economy | 10:30 - 02/09/2019
News Follow - up to the balance of
price jumped National shares "Emirates NBD" today to its highest level in 12 years, after the announcement of the UAE Bank for obtaining the approval for the lifting of the proportion of foreign ownership of 5 to 20% of its capital.
The bank, listed on the Dubai Financial Market (DFM), said in a press release that it had obtained all the regulatory and internal approvals necessary to increase the percentage of foreign ownership in its capital from 5% to 20% in accordance with its Articles of Association.
The bank, the largest in Dubai, rose 14.4% to a 12-year high, while the benchmark Dubai index rose 3.2%, Bloomberg said.
Emirates NBD is a heavyweight and heavily weighted share in the DFM General Index, with Dubai Government Investments owning the largest stake in the bank by 55.7%.
Emirates NBD recently announced its financial results for the second quarter of this year, which registered a net growth of 80% to AED 4.74 billion, compared to AED 2.63 billion in the second quarter of 2018.
price jumped National shares "Emirates NBD" today to its highest level in 12 years, after the announcement of the UAE Bank for obtaining the approval for the lifting of the proportion of foreign ownership of 5 to 20% of its capital.
The bank, listed on the Dubai Financial Market (DFM), said in a press release that it had obtained all the regulatory and internal approvals necessary to increase the percentage of foreign ownership in its capital from 5% to 20% in accordance with its Articles of Association.
The bank, the largest in Dubai, rose 14.4% to a 12-year high, while the benchmark Dubai index rose 3.2%, Bloomberg said.
Emirates NBD is a heavyweight and heavily weighted share in the DFM General Index, with Dubai Government Investments owning the largest stake in the bank by 55.7%.
Emirates NBD recently announced its financial results for the second quarter of this year, which registered a net growth of 80% to AED 4.74 billion, compared to AED 2.63 billion in the second quarter of 2018.
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