Emirates NBD’s profit before tax climbed to a record AED27.1 billion ($7.38 billion) in 2024, a 15% increase compared to 2023 figures, as it expanded its regional presence and enhanced its wealth management franchise.

The group recorded a net profit after tax of AED23 billion ($6.26 billion), up 7% on 2023 numbers.

Income grew to over AED44 billion in 2024, a 3 per cent growth year-on-year, with the group’s strategic investment in digital banking and branch network, generating significant new revenue streams, said the bank.

All business units achieved an outstanding performance with AED160 billion ($43.56 billion) in new loans provided to customers, driving assets up an excellent 16% as it maintained a one-third market share of UAE credit cards.

Emirates NBD Capital, the number one investment bank for UAE IPOs, generated its highest ever revenue, during its busiest year for transactions.

10% loan growth in 2024, with AED88 billion of new corporate lending on optimisation of regional network and 30% increase in retail lending as priority and private banking franchise grows rapidly. 

Deposit mix is a key strength, growing AED82 billion in 2024, including a AED48 billion increase in Current & Savings Accounts (CASA).

Impairment charge of AED0.1 billion with zero cost of risk, a record low, on strong recoveries.

Impaired loan ratio improved to 3.3% as clients benefit from a buoyant economy. 

Earnings per share up significantly by 7% to 356 fils in 2024.

Assets Under Management across the Group now exceed $44 billion, reflecting ongoing success of our wealth management strategy.

KSA network expanded to 21 branches and 62 ATMs, driving an impressive 57% loan growth in 2024.

 Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Emirates NBD, said: “Emirates NBD’s profit before tax climbed to a record AED27.1 billion in 2024 as the Group optimises its regional corporate presence and expands its Wealth Management, Priority and Private banking franchise.