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Emirates NBD's AGM approves dividend.

Dubai: Emirates NBD's annual general meeting of shareholders held on Wednesday approved the distribution of 35 per cent cash dividend (35 fils per share) for the year ended 31 December 2014.

The meeting reviewed and approval of the Directors' Report concerning the Group's activities and financial statements for the year ended 31 December 2014 as well as review and approval of the Auditors' Report for the same period.

While the shareholders approved the consolidated statements of the Group for the financial year ended 31 December 2014, Ernst & Young were appointed as auditors of the Group for the year 2015.

At the AGM, Emirates NBD Chairman, Shaikh Ahmad Bin Saeed Al Maktoum, presented a review of the year ended 31st December 2014. "Taking advantage of the robust economic landscape in the UAE, Emirates NBD remained on a growth path in 2014. It has been an important year for the bank as we have proved yet again in our ability to be a force for growth, whilst setting benchmarks for the banking industry in the UAE and the wider region," said Shaikh Ahmad.

The meeting was informed that bank made significant contributions last year in taking Dubai closer to its vision of becoming the world capital of the Islamic economy. "During the year, our Investment banking arm was ranked as the highest arranger of US dollar sukuk issuances in the Middle East and number 3 globally. In addition, our Islamic banking franchise, Emirates Islamic, delivered solid results during the year marked by excellent financial performance," he said.

Emirate Islamic also held its AGM in Dubai on Wednesday. Hesham Abdulla Al Qassim, Chairman of Emirates Islamic presented a review of the financial year ended 31 December, 2014. The meeting reviewed and approved the Board of Directors' report on the bank's activities and its financial position as at 31 December 2014, and reviewed and approved the bank's auditors' report.

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Publication:Gulf News (United Arab Emirates)
Geographic Code:7UNIT
Date:Mar 5, 2015
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