Emirates Islamic Bank (EIB) and Dubai Bank are not engaged in merger talks, said a statement on Tuesday.
Emirates NBD, the holding company of EIB, reiterated this in a statement to Dubai Financial Market.
Newspapers reported earlier this month that EIB has plans to buy Dubai Bank and Amlak.
In a conference call on Monday, Chief Executive Rick Pudner also rejected these merger reports. "There are no talks with regards of an acquisition of Dubai Bank by Emirates Islamic Bank," Pudner said.
Emirates NBD statement also denied rumours about the sale of its real estate subsidiary Union Properties (UP). The bank holds 48 per cent in the Dubai property developer.
The bank’s third-quarter net profit was Dh424 million ($115.5 million), down from Dh1.05 billion in the same quarter one year ago, and well below a mean estimate of Dh804.3 million in a Reuters poll of analysts.