Emirates Islamic Bank lays off 200 staff mainly in SME segment
Emirates Islamic Bank, the Islamic arm of ENBD, laid off more than 100 people as part of cost cutting. The bank had cut around 200 jobs earlier this year. Emirates Islamic employed around 2000 people according to an ENBD spokesman in April. Most of the latest jobs to go were in the department servicing small and medium-sized enterprises. (Reuters) Emirates NBD: AED8.20 as of 24 August 2016, Rating: Buy, FV: AED10.00/share, MCap: USD12,418mn, EMIRATES UH / ENBD.DU
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