Income at the consumer and wealth management business of Emirates NBD remained stable year-over-year at AED1.7 billion (around £300 million) for the first half of 2010.

The deposit base for this business segment grew by 4 per over the first six months of this year to reach AED56.5 billion, but interest margins were under pressure, the bank said in a statement. This negative factor was offset by reduced operational costs.

Net profits at the Emirates NBD group were AED1.5 billion for the first half of 2010, which represents a 23 per cent drop year-over-year. Meanwhile, earnings per share fell by 28 per cent to AED0.27

The bank’s Tier 1 capital ratio was 12.5 per cent as at 30 June 2010, up from 11.9 per cent at the end of last year.