Emirates Development Bank reports Dh350m profit for 2012-2015 period

Abu Dhabi: Emirates Development Bank (EDB) on Tuesday reported a net profit of Dh350 million for the three-year period from 2012 to 2015.

The EDB board of directors approved the financial statements for the three years ending December 31, 2015, during which time it increased the size of its assets by 50 per cent Dh6.9 billion.

In the three-year period, bank deposits grew by Dh1.6 billion (41 per cent) to Dh5.5 billion at the end of 2015.

During the same period, EDB also increased its Emiratisation rate from 34 per cent at the end of 2012 to 52 per cent at the end of 2015. The board also adopted the third annual report for 2015.