Leading UAE banks are reporting strong first-half profits defying the global trend and analysts' expectations. In the beginning of this month Ahmad Humaid Al Tayer, chairman of Emirates NBD - the largest regional bank by assets - said that the UAE banks would report profits in the range of 30 to 45 percent. So far, most leading UAE-based banks have reported profits in this range or more. For the first half of the year, Emirates NBD reported Dh2.68 billion net profit, up 41 percent compared to the combined first-half profits of Emirates Bank International (EBI) and National Bank of Dubai (NBD). --MORE
