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Wed 22 Apr 2015 03:34 PM

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Dubai's Emirates NBD forecasts 5% loan growth for 2015

Dubai's largest lender says loan growth climbed by 4% in Q1, up from same period last year

Dubai's Emirates NBD forecasts 5% loan growth for 2015

Emirates NBD (ENBD), Dubai's largest lender, expects loan growth to be around 5 percent in 2015, it told Reuters on Wednesday.

Loan growth climbed by 4 percent in the first quarter of the year, up from the same period of last year, the bank said in its first-quarter earnings statement, released earlier in the day.

In an emailed response to questions, a spokeswoman for ENBD said it forecast 2015 loan growth to be "in the 5 percent area."

The bank expected loan growth to be between 5 and 7 percent in 2015, chief executive Shayne Nelson told reporters in February.

ENBD posted a 60 percent rise in first-quarter net profit on Wednesday, beating analysts' forecasts as income from lending, fees and other products increased and provisions dropped. 

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