Emirates NBD PJSC

Emirates NBD PJSC

EMIRATESNBD

1 week

-0.04 %

1 month

-0.02 %

3 months

0.21 %

OverviewInsightsDisclosures

Emirates NBD PJSC

Logotype for Emirates NBD PJSC
Ticker/ISIN
EMIRATESNBD
AEE000801010
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
19.95 AED
2024-10-04

Year to date

0.15 %

3 months

0.21 %

6 months

0.14 %

1 year

0.11 %

3 years

0.00 %

5 years

0.00 %

Country of Origin: United Arab Emirates (U.A.E)

Emirates NBD PJSC (the “Bank”) was incorporated in the United Arab Emirates on 16 July 2007, under the Commercial Companies Law (Federal Law Number 8 of 1984 as amended) as a Public Joint Stock Company. The Bank was incorporated principally to give effect to the merger between Emirates Bank International PJSC (“EBI”) and National Bank of Dubai PJSC (“NBD”). The merger became effective from 16 October 2007, while the legal merger was completed on 4 February 2010. Post this date, EBI and NBD ceased to exist. The Bank and its subsidiaries are (together referred to as the “Group”). The Bank is listed on the Dubai Financial Market. The Group’s principal business activity is corporate, consumer, treasury, investment banking, Islamic financing and asset management services. The parent company of the Group is Investment Corporation of Dubai, a company in which the Government of Dubai is the majority shareholder.

Latest Pressrelease Summaries

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.
The Corporate Governance Manual's clauses 1 & 2 of article 40 allow shareholders with the right to attend the General Assembly to delegate someone other than board members, company staff, or securities brokerage company employees to attend on their behalf. This delegation must be in writing, explicitly stating the delegate's right to attend the General Assembly and vote on its decisions. A delegate for multiple shareholders cannot hold more than 5% of the company's issued capital. Shareholders must sign the power of attorney, which must be approved by a Notary Public, the state's commercial chamber of economic department, a licensed bank or company in the state, or any other licensed entity. The proxy form should include the shareholder's name and contact number(s), as well as the brokerage firm or authority that approved the proxy.
The due Zakat for Emirates NBD shareholders for the year ended 31 December 2023 can be calculated using two methods. The first method is for shares purchased for trading, where the Zakat pool per share is the quoted value plus cash dividends. The Zakat per share is 2.5775% of the Zakat pool per share, with the net Zakat per share being the Zakat per share less the Zakat on reserves and retained earnings per share paid by the bank. The total Zakat payable is the number of shares multiplied by the net Zakat per share. The second method is for shares purchased for acquisition, where the shares' Zakat is 10% of the total shares' dividends for the year.
Emirates NBD reported a 92% increase in profit to AED 17.5 billion in the first nine months of 2023, with Q3 profit exceeding AED 5 billion for the third consecutive quarter. This is attributed to substantial loan growth, a stable low-cost funding base, increased transaction volumes, and substantial recoveries. The bank's deposit franchise grew AED 67 billion, including AED 33 billion of low-cost Current and Savings Accounts in 2023. The bank also experienced an 8% loan growth due to strong retail lending momentum and multinational-customer deals. The bank's total income rose by 44% to AED 32.7 billion, and its balance sheet grew by 13% to AED 836 billion at Q3-23. The bank's earnings per share increased by 96% to 271 fils.
The text provides a summary of the condensed consolidated interim financial statements of the Emirates NBD Bank PJSC Group for the nine-month period ending on 30 September 2023.

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Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Press release regarding financial results for the First Half of 2024

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.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Financial statements for the 2n QTR of 2024

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.

1. Attached Document 2. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Earnings Call

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: BOD meeting

1. Attached Document

FinDiesel

FinDiesel

Commented on AkSharesKumars Transaction regarding Emirates NBD PJSC

Nice move picking up Emirates NBD! Solid play in the Financials sector. With your portfolio mix, this adds strength and balance. Keep driving forward, brother! 💪🚗💨
CashwariyaRai

CashwariyaRai

Commented on AkSharesKumars Transaction regarding Emirates NBD PJSC

Great move! Emirates NBD is a solid choice in the Financials sector. Diversifying with Industrials and Financials can be a winning strategy. Keep shining! 🌟
ConsumerPrincess

ConsumerPrincess

Commented on FinanceBroAEDs Transaction regarding Emirates NBD PJSC

Solid move picking up Emirates NBD PJSC at 17.8 AED. Diversifying into Financials with a strong regional player could balance your portfolio well. Looking forward to seeing how this plays out!
RealEstateKing

RealEstateKing

Commented on FinanceBroAEDs Transaction regarding Emirates NBD PJSC

Nice pick with Emirates NBD! Solid choice in the financial sector. Curious to see how it performs in the long run. Ever thought about diversifying into real estate or utilities?
FinDiesel

FinDiesel

Commented on FinanceBroAEDs Transaction regarding Emirates NBD PJSC

Solid move picking up Emirates NBD at 17.75 AED. Financials are the backbone, and your 1-month yield shows you're in the fast lane. Keep pushing and stay strong, brother.
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