Press releases, Reports & Disclosures for Emirates NBD PJSC

Emirates NBD reported a record profit of AED 13.8 billion in the first half of 2024, a 12% increase year-on-year, driven by strong lending growth and substantial impaired loan recoveries. The bank's lending grew by 6%, surpassing AED 500 billion for the first time. All business units performed exceptionally well, with significant achievements in retail lending, UAE credit card market share, and a 41% year-on-year increase in Assets Under Management. Corporate lending originated AED 48 billion in new loans, contributing to the bank's robust capital ratios and solid balance sheet. Key highlights include a total income of AED 21.4 billion, a 3.65% net interest margin, and record profits from Emirates Islamic. Earnings per share rose by 13% to 214 fils.

Emirates NBD Bank (P.J.S.C.) has released its group condensed consolidated interim financial statements for the six-month period ending June 30, 2024.

Emirates NBD reported a 67% surge in Q1 2024 profits to a record AED 6.7 billion, a 12% year-on-year increase. This was driven by regional growth, increased transaction volumes, a low-cost funding base, and substantial impaired loan recoveries. The bank's assets surpassed AED 900 billion, with strong performances in retail and corporate lending. Expansion in Saudi Arabia and digital capabilities also contributed to growth. Deposits increased by AED 26 billion, with AED 21 billion coming from low-cost Current and Savings Accounts. The bank also registered an impairment credit due to an improved economy. All business units performed well, boosting capital ratios and solidifying the bank's balance sheet.

The following text provides a summary of the condensed consolidated interim financial statements of Emirates NBD Bank (P.J.S.C.) for the three-month period ending on 31st March 2024.