Emirates NBD reports Dh4 billion net profit

Dubai: Emirates NBD, the Gulf's largest bank by assets, on Wednesday announced a net profit of Dh4 billion for the year ending 31 December 2007.

This is the first full-year result of the bank following the merger between Emirates Bank and National Bank of Dubai last year.

The income statement is based on the consolidated income statement of Emirates Bank International and National Bank of Dubai for the year ending December 31, 2007.

"When NBD and EBI came together last year, the vision was to create a national banking champion that is greater than the sum of its parts. The move was one that brings benefits to everyone in the business, all our customers, shareholders and other stakeholders. We are already seeing the benefits of this landmark merger," said Emirates NBD Chairman Ahmad Humaid Al Tayer.