Dubai: Emirates NBD reported a record AED27.1 billion profit before tax in 2024, reflecting a 15 percent increase from the previous year, while the profit after tax rose to AED23 billion, marking a 7 percent rise. In a statement on Wednesday, the bank announced that the Board of Directors is proposing a 100 fils dividend per share.
According to Emirates News Agency, the bank’s income surged to over AED44 billion in 2024. This growth was fueled by the Group’s strategic investment in digital banking and its branch network, which generated significant new revenue streams. The bank also experienced a 10 percent increase in loan growth in 2024, with AED88 billion of new corporate lending due to the optimisation of its regional network and a 30 percent rise in retail lending as its Priority and Private banking franchise expanded rapidly.
Emirates NBD’s deposit mix grew by AED82 billion in 2024, which included an AED48 billion increase in Current and Savings Accounts (CASA). H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, highlighted that the bank’s profit before tax reached a record AED27.1 billion in 2024 as the Group optimised its regional corporate presence and expanded its Wealth Management, Priority, and Private banking franchise.
The Chairman also noted the remarkable 57 percent loan growth in the Kingdom of Saudi Arabia in 2024, attributing this to the expanded network of 21 branches and 62 dedicated ATMs. Looking ahead, he projected that Dubai’s GDP is expected to grow by 5 percent in 2025, driven by expansion in key sectors such as infrastructure, transport, hospitality, and logistics. Emirates NBD is poised to continue driving growth in the UAE and the region.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, stated that 98 percent of customers are now onboarded digitally. He emphasized that Private and Priority Banking are providing a market-leading product range to a growing affluent population.