Emirates NBD PJSC
About Emirates NBD PJSC
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 from Emirates NBD PJSC
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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.