Emirates NBD PJSC’s Chief Executive Officer Rick Pudner will leave the bank after completing his term at the end of 2013, the second such departure at United Arab Emirates’ two biggest lenders this year.
Emirates NBD PJSC reported a worse- than-expected 53 percent decline in second-quarter profit as the United Arab Emirates’ biggest bank by assets set aside money to cover bad loans including exposure to state-owned Dubai World.
Emirates NBD PJSC, Dubai’s biggest bank, hired Shayne Nelson from Standard Chartered Plc as chief executive officer to succeed Rick Pudner, who is scheduled to leave at the end of the year after eight years in the job.
Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, expects to raise more than $12 billion for clients in the remainder of the year, boosting investment banking income as the lender seeks expansion.
Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, reported a decline in first- quarter profit that wasn’t as steep as analysts had estimated and said there are early signs of an economic rebound.
Emirates NBD PJSC, the United Arab Emirates’ biggest bank by total assets, is talking with the central bank about how to conform to new caps on government lending even as the deadline to comply with the rules passed.