Dubai’s Emirates NBD bank posted a 60 percent drop in third quarter net profits on Monday, as it increased provisions for bad loans, including its exposure to Dubai World. The largest bank in the United Arab Emirates by assets said its net profit dropped to 424 million dirhams ($115.5 million) in the quarter ending September 30, compared to 1.05 billion dirhams in the corresponding period last year. In a statement to the Dubai Financial Market, the Dubai government-controlled bank said it had set aside 1.2 billion dirhams in provisions for bad loans in the third quarter, taking total impairment allowance in the first nine months of 2010 to 2.99 billion dirhams. “The bank’s specific provisions for its exposure to Dubai World were taken in Q3 2010,” said Emirates NBD, which is reportedly one of the biggest lenders to the troubled group.