Emirates NBD reported a record AED 27.1 billion profit before tax in 2024, up 15% from the previous year, while the profit after tax reached AED23 billion, up 7%.
The bank’s board of directors is proposing a 100 fils dividend per share. Revenue climbed to over AED 44 billion in 2024, driven by the group’s strategic investment in digital banking and branch networks, generating significant new revenue streams.
The bank reported a 10% loan growth in 2024, with AED88 billion of new corporate lending on optimisation of the regional network and a 30% increase in retail lending as a priority and private banking franchises grow rapidly.
The deposit mix grew by AED82 billion in 2024, including an AED48 billion increase in current and savings accounts (CASA).
“Emirates NBD’s profit before tax climbed to a record AED27.1 billion in 2024 as the Group optimises its regional corporate presence and expands its wealth management, priority and private banking franchise,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD.
“We are delighted with our incredible 57% loan growth in Saudi Arabia in 2024, driven by our expanded network of 21 branches and 62 dedicated ATMs.”
The chairman projected that Dubai’s GDP would grow by 5% in 2025, driven by expansion in key sectors, including infrastructure, transport, hospitality, and logistics and Emirates NBD stands ready to continue driving UAE and regional growth.
Emirates Islamic delivered a record profit of AED 2.8 billion, driven by a positive trend in both funded and non-funded income, demonstrating a robust business performance. Total revenue increased 13% to AED5.4 billion as assets grew 27% to AED111 billion.
Customer financing surged by an impressive 31% to AED71 billion and customer deposits increased by a very healthy 25% to AED77 billion in 2024.
