Daily Business Wrap - Bank results are looking good in the UAE - video Dailymotion

Emirates NBD, Dubai’s top bank by assets on Wednesday reported a net profit of Dh2.7 billion up 15 per cent year on year and quarter on quarter.

Transcript

00:00Hello and welcome to Gulf News Daily Business Wrap-Up.

00:04Banking results in the UAE are looking good, contrary to market expectations.

00:08Emirates NBD, Dubai's biggest bank by asset, reported a 15% increase in net profit.

00:14Net profit rose 15% to be at 2.7 billion dirhams.

00:18Revenues rose by 5% to be at 4.71 billion dirhams.

00:22The bank said that higher than expected profit was because of higher loan growth and steady

00:29profit margin.

00:30Netflix, the streaming company, is on the brink of reaching the subscriber mark to 150

00:35million.

00:36In the quarter to March 31, the company added about 9.6 million subscribers.

00:41Contrary to market expectations, they were expecting about an addition of 9 million subscribers.

00:47Profit rose by 14% to be at $350 million.

00:51World stocks were eyeing a return to its all-time high as better-than-expected Chinese data

00:57eased concerns about the health of the global economy.

01:00Dow Jones Indices was a few hundred points away from its record high.