Emirates NBD PJSC

Since January 2023, there has been press speculation about Emirates NBD Bank PJSC being involved in potential acquisitions in the region, including in Egypt. The bank regularly explores growth opportunities through both internal resources and external operations like mergers and acquisitions. Emirates NBD confirms that, to date, there have been no material developments necessitating a specific announcement regarding these speculations. Should any significant developments occur, the bank will disclose them in accordance with its regulatory obligations. For further inquiries, contact Patrick Clerkin, Group Head of Investor Relations, or Ibrahim Sowaidan, Group Corporate Affairs.

The disclosure clarifies the approval process for proxies to attend the General Meeting in accordance with Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. Shareholders can delegate someone, not a board member, company staff, or securities brokerage employee, to attend and vote at the general assembly on their behalf through a written delegation. The delegate cannot represent more than 5% of the company's issued capital. Legal representatives must represent those lacking legal capacity. The shareholder's signature on the power of attorney must be verified by a Notary Public, a chamber of commerce or economic department, a licensed bank or company where the shareholder holds an account, licensed financial markets, or any other licensed attestation entity.

In 2024, Emirates NBD achieved a record profit before tax of AED 27.1 billion, marking a 15% increase. The growth was driven by the expansion of its regional presence and enhancement of its Wealth Management franchise. The bank's income rose to over AED 44 billion, bolstered by strategic investments in digital banking and branch networks, resulting in significant new revenue streams. The bank provided AED 160 billion in new loans, increasing assets by 16% and maintaining a one-third market share of UAE credit cards. Emirates NBD Capital reported its highest-ever revenue during a busy year for transactions, while Emirates Islamic recorded a profit of AED 2.8 billion, solidifying its position in the Islamic banking sector. The bank's branch expansion in Saudi Arabia led to a 57% growth in its loan book. The Board of Directors proposed a 100 fils dividend in response to the strong performance. Key highlights for 2024 included a 15% increase in profit before tax due to significant loan growth, a low-cost funding base, strong transaction volumes, and substantial recoveries. Profit after tax rose by 7% to AED 23 billion. Total income reached AED 44.1 billion, supported by strong loan growth and a stable, low-cost funding mix. The bank experienced a 10% loan growth, with AED 88 billion in new corporate lending and a 30% increase in retail lending. Deposits grew by AED 82 billion, with a notable increase in Current & Savings Accounts. The impairment charge was AED 0.1 billion, with a record low cost of risk, and the impaired loan ratio improved to 3.3%. Emirates Islamic's record profit was driven by a 31% growth in customer financing. Earnings per share increased by 7% to 356 fils.