Emirates NBD, Dubai’s largest bank by assets, announced on Friday that the Investment Corporation of Dubai has transferred 937.5 million of its shares to Dubai Holding.
A statement from the Dubai Financial Market stated that, on November 24, 2023, through the Dubai Depository Company, the corporation transferred 937,500,000 ordinary shares to DH7 Company, a wholly owned subsidiary of Dubai Holding Company, according to the statement.
The statement also clarified that the Investment Corporation of Dubai currently still owns 40.9 percent of the issued share capital of Emirates NBD.
The shares were transferred to DH7, which now owns 14.8 percent of the bank.
Emirates NBD announced last July that it had achieved historic profits in the first half of this year.
The bank’s profits jumped by 130 percent to 12.3 billion dirhams (about $3.35 billion) in the first half of 2023, compared to 5.3 billion dirhams in the first half of 2022, supported by the strong growth of current and savings accounts, in addition to the good improvement witnessed in lending activities. .
2023-11-24 16:29:41
#Dubai #Government #Investments #transfers #shares #Dubai #Holding
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