أرباح الإمارات دبي الوطني تتفوق على التوقعات في الربع الأول 2024

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Transcript

00:00 After the implementation and application of the tax on companies in the UAE, the largest

00:06 national Dubai Bank in terms of its presence in the Dubai market, achieves and records

00:13 more profits than expected.

00:15 Let's take a look at the results of the National Dubai Bank, which has had a positive effect

00:23 on the profits and profits that are still high in the UAE, and this is reflected in the

00:31 amount of funding and the amount of income benefits to the UAE.

00:36 We are talking here about profits.

00:38 After the tax, it reached 6.7 billion dirhams and grew by more than 11% during the first

00:46 quarter of this year.

00:47 Before the tax, profits exceeded 7.5 billion dirhams, or before the tax imposed by

00:53 companies, 7.5 billion dirhams, compared to the 6 billion dirhams we saw in the first

00:59 quarter of the past year.

01:01 Income benefits also grew by a large 50% in income benefits, approximately more than

01:07 15 billion dirhams.

01:08 It was an effective business in the first quarter of this year.

01:15 The bank also said that there is a strength in the economies, and therefore some

01:21 related specializations were reversed by reducing the value, and it was estimated at

01:25 900 million dirhams, and therefore it also shed its shadow on the results of the business,

01:30 and the interest rate of the loans was about 4.4%.

01:35 Let's also take a look at the financial center for the bank.

01:39 We will talk here about the assets. For the first time in the history of the UAE,

01:45 assets exceeded 900 billion dirhams, which grew by 5%, compared to the end of the

01:53 last year, which was 902 billion dirhams, and this is the highest level of assets.

02:00 We also look at loans. Loans grew by 3%, which recorded approximately 460 billion

02:06 dirhams, and that was in the first quarter. The dividend also rose by 4.4% to 610 billion

02:15 dirhams at the end of the first quarter of this year, and therefore all of these factors

02:20 shed their shadow on the performance of the bank.

02:23 But there were some effects on profits, which were first the tax of companies,

02:29 whether the applied tax or the one that was applied in the UAE and was announced in

02:34 the first quarter of the last year, to start a new financial year for the companies,

02:38 and the beginning of the application and accounting was in the first quarter,

02:43 in addition to what the UAE means in particular, as well as the applied tax of

02:48 companies in Turkey. In the UAE, the tax of companies is 9% while in Turkey it is 25%.

02:55 All of this in total led to the tax of companies to 861 million dirhams.

03:02 In addition to that, the Turkish partner bank, the UAE, which monitored the

03:13 inflation indicators, the inflation in Turkey exceeded 300% over the last three years,

03:19 and therefore the bank lost about 900 million dirhams as a result of the inflation.

03:26 Therefore, these factors also put pressure on the results of the UAE Bank,

03:32 which despite all these effects, recorded profits only as expected in the first quarter of the next year.

03:39 [BLANK_AUDIO]