Emirates NBD Holds Its 13th General Assembly Meeting #Dubai - Dubai City Guide
Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Home / News / Company News
Company News
   

Emirates NBD Holds Its 13th General Assembly Meeting
(11 March 2020)
Approves cash dividend of 40 per cent


 

Emirates NBD (DFM: EmiratesNBD), a leading bank in the region, held its 13th General Assembly Meeting at the Bank’s Headquarters.

At the General Assembly Meeting, a review of the year ended 31 December 2019 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “As we begin a new decade and enter the highly anticipated year of 2020, we at Emirates NBD are eager to continue supporting the UAE’s growth story and helping realise the ambitious dreams of this great nation and its wise leadership.”

His Highness added, “Emirates NBD celebrated many important milestones in 2019, including welcoming DenizBank to the Emirates NBD family, thus extending our footprint in the MENAT region. We raised the foreign ownership limit from 5% to 20% and we also offered our valued shareholders an exceptional opportunity to participate in a Rights Issue of AED 6.45 billion.  We announced a record annual net profit of AED 14.5 billion for 2019 helped by the partial disposal of a stake in Network International and have a strong balance sheet supporting a diversified business model.”

Key financial highlights for 2019 included:

  • Net profit of AED 14.5 billion, up 44% compared with the prior year
  • Total Income of AED 22.4 billion improved 29% compared with the prior year
  • Total assets at AED 683 billion, up 37% compared with the prior year
  • Customer loans at AED 437 billion, up 33% compared with the prior year
  • Customer deposits at AED 472 billion, up 36% compared with the prior year
  • Common Equity Tier 1 Ratio at 15.3% and Capital Adequacy Ratio at 18.5%

His Highness Sheikh Ahmed Bin Saeed Al Maktoum added: “In 2019, Emirates NBD continued to embrace Corporate Social Responsibility as a key consideration in the product and services we offer. We spearheaded several programmes and initiatives, aligned with the pillars outlined within the UAE’s Year of Tolerance. As part of our commitment to building public awareness on safe banking practices, we were proud to partner with Dubai Police on the UAE-wide #SecureYourAccount campaign, aimed at raising public awareness and education on Cybersecurity.

“2020 will see the kick-off of the much-awaited Expo 2020 Dubai, and as Official Banking Partner, Emirates NBD is looking forward to showcasing our many innovations in smart technology and digital banking through our site-wide presence as “Bank of the Future” at the event.”

His Highness Sheikh Ahmed Bin Saeed Al Maktoum concluded, “Finally, I would like to thank HH Sheikh Mohammed bin Rashid A Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the Country’s wise Leadership for their vision. I also thank Emirates NBD Group’s Board of Directors, members of the Executive Committee and all our employees for their continued contribution towards our success in 2019. I also wish to extend gratitude to our customers and shareholders for their continued support and trust.”

The following resolutions were passed at the General Assembly Meeting:

  • Review and approval of the Directors’ Report for the year ending 31 December 2019.
  • Review and approval of the Auditors’ Report for the year ending 31 December 2019.
  • Review and approval of the Consolidated Financial Statements of the Bank for the year ending 31 December 2019.
  • Appointment of Internal Sharia Control Committee members.
  • Approval of distribution of 40% Cash Dividend (40 fils per share) aggregating to an amount of AED 2,526,639,301 for the year ended 31 December 2019.
  • Approval of the Board of Directors’ remuneration.
  • Absolving the Board of Directors from their responsibility for the year ended 31 December 2019.
  • Absolving the Auditors from their responsibility for the year ended 31 December 2019.
  • Approval of suspension of transfer to legal and statutory reserves which now equals 50% of the share capital and regular reserve which now equals 10% of the share capital.
  • Deloitte & Touche (M.E.) were appointed as Auditors of the Group for the year 2020.

We accept Guest Posts


DubaiCityGuide.com is owned and managed by Cyber Gear



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance