Emirates NBD recorded a record profit before tax of Dhs27.1 billion in 2024, a 15% increase over the previous year, while profit after tax was Dhs23 billion, up 7%. In a statement, the bank stated that the Board of Directors had proposed a 100 fils dividend per share.
Income increased to more than Dhs44 billion in 2024, owing to the Group’s strategic investment in digital banking and the branch network, which generated major new revenue streams.
The bank claimed a 10% loan growth in 2024, with Dhs88 billion in new corporate lending resulting from regional network optimization and a 30% rise in retail lending as the Priority and Private Banking franchises expanded significantly. The deposit mix increased by Dhs82 billion in 2024, with a Dhs48 billion rise in Current and Savings Accounts (CASA).
According to Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Emirates NBD, “Emirates NBD’s profit before tax climbed to a record Dhs27.1 billion in 2024 as the Group optimises its regional corporate presence and expands its Wealth Management, Priority, and Private banking franchise.”
He said, “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.”
The Chairman forecasted that Dubai’s GDP will expand 5% in 2025, spurred by expansion in important areas such as infrastructure, transportation, hotels, and logistics, and Emirates NBD is ready.
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