DUBAI  - Dubai's biggest lender Emirates NBD on Monday posted a 44% surge in 2019 net profit, underpinned by a double-digit growth in net-interest income, stronger loan growth and gains from the listing of its unit Network International.

The bank's full-year net profit came in at 14.5 billion dirham ($3.95 billion), compared with 10.04 billion dirhams last year, higher than 13.55 billion dirhams as forecast by analysts in a Refintiv poll.

The company said its profit grew only 1%, excluding gains from the listing of digital payment provider Network International in London last year.

Loans increased 33% to 437 billion dirhams, including contribution from newly acquired Turkish lender DenizBank, Emirates said, adding that its non-interest income surged 38% due to higher foreign exchange and credit card-related income.

The Dubai-based lender's fourth-quarter profit came in at 2.02 billion dirhams, down from 2.39 billion dirhams in the year-ago period, the bank said, and lower than estimates of Reuters' analysts.

 

($1 = 3.6728 UAE dirham)

(Reporting by Saeed Azhar, Editing by Sherry Jacob-Phillips) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))