Today's Edition
DUBAI (WAM)
Emirates NBD reported a record Dh27.1 billion profit before tax in 2024, up 15 percent from the previous year, while the profit after tax reached Dh23 billion, up seven percent.
In a statement on Wednesday, the bank said that the Board of Directors is proposing a 100 fils dividend per share.
Income climbed to over Dh44 billion in 2024 driven by the Group’s strategic investment in digital banking and branch network, generating significant new revenue streams.
The bank reported a 10 percent loan growth in 2024, with Dh88 billion of new corporate lending on optimisation of regional network and 30 percent increase in retail lending as Priority and Private banking franchise grows rapidly.
Deposit mix grew by Dh82 billion in 2024, including an Dh48 billion increase in Current and Savings Accounts (CASA).
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said, “Emirates NBD’s profit before tax climbed to a record Dh27.1 billion in 2024 as the Group optimises its regional corporate presence and expands its Wealth Management, Priority and Private banking franchise.”
“We are delighted with our incredible 57 percent loan growth in the Kingdom of Saudi Arabia in 2024, driven by our expanded network of 21 branches and 62 dedicated ATMs,” he added.
The Chairman projected that Dubai’s GDP is to grow five percent 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.
Vice Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, said that 98 percent of customers are now onboarded digitally, with Private and Priority Banking offering a market-leading product range to a growing affluent population.
