The Emirates NBD (DFM: EmiratesNBD), today announced its results for the half year ended 30 June 2012. The bank earned in H1 2012 net profit of AED 1.3 billion, up by 274% compared with AED 0.3 billion in H1 2011 after excluding the AED 1.8 billion non-recurring gain on subsidiaries. The total income of the bank stood at AED 5.2 billion, up by 7% from H1 2011. Total assets of the bank up by 5% at AED 298.4 billion compared with AED 284.6 billion at the end of 2011. The customer loans were at AED 208.2 billion, up by 2% relative to AED 203.1 billion at the end of 2011. Customer deposits were at AED 208.4 billion, up by 8% from AED 193.3 billion at the previous year-end, similarly headline loan to deposit ratio improved to 100% from 105% at the end of 2011 and capital adequacy ratio at extremely healthy level of 19.5%. Commenting on the Group\'s performance, Emirates NBD\'s Chief Executive Officer, Rick Pudner, said: \"During the first half of 2012 we have delivered a robust set of financial results with pre-impairment operating profits for the period up 5%, despite a continued challenging external environment. In addition, the progress we have made towards our strategic priorities is now bearing fruit as growth momentum in our Retail and Islamic banking franchises is evidently gathering pace, while the strategy transformation activity in our Wholesale Banking business is set to reap future benefits.\" Emirates NBD\'s Chief Financial Officer, Surya Subramanian, said: \"The operating performance for the first half of 2012 has been strong despite challenges to top-line growth and has been supported by a sustained cost optimisation initiative, reporting declining operating costs over the last two quarters. The Bank has also continued to maintain conservatism in de-risking its balance sheet and further optimised its balance sheet during the period through its focus on growth in stable low-cost deposits and the issuance of almost AED 9 billion in medium term liabilities.