Emirates NBD achieved record profits before the tax, amounting to 27.1 billion dirhams, for the year 2024, with a growth rate of 15%, compared to 2023, while net profits after the tax grew by 7% to 23 billion dirhams.
The bank stated in a statement yesterday that the board of directors proposed the distribution of cash dividends of 100 fils per share.
The total income of the bank increased during the year 2024, to exceed the barrier of 44 billion dirhams, as it achieved the strategic investment of the Emirates NBD group in digital banking services and the branch network, new unprecedented channels in revenue.
The loans grew by 10% in 2024, as the volume of new loans provided to companies reached 88 billion dirhams, against the background of improving the regional network, while individuals ’loans increased by 30%, as a result of the rapid growth of the activities and offers of distinctive and private banking services.
The depository mix achieved a growth of 82 billion dirhams in 2024, with an increase of 48 billion dirhams in the ongoing accounts and savings accounts.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Emirates NBD Board of Directors, said, “The profits of the bank, before the tax, increased to an unprecedented level of 27.1 billion dirhams in 2024, as a result of the group’s ability to improve its regional presence and expand the scope of management work Distinguished and private banking and banking services.
He added that «the loans in the Kingdom of Saudi Arabia achieved, during the past year, a significant growth of 57%, supported by the expanded network of bank branches, which currently includes 21 branches and 62 allocated ATMs.
His Highness continued: “The story of the expansion of our international operations is the growth, diversity and flexibility, taking advantage of our unique offers to expand our fingerprint in the Middle East, North Africa and Turkey and outside.”
His Highness expected that Dubai’s gross domestic product will grow by 5% in 2025, driven by the expansion of the main sectors, including infrastructure, transport, hospitality and logistical services, stressing the readiness of Emirates NBD’s readiness to continue to pay the growth in the UAE and the region.
His Highness said: “In light of the distinguished performance of the group, we suggest distributing profits of 100 fils.”
For his part, the Vice Chairman and Managing Director of Emirates NBD Group, Hisham Abdullah Al -Qasim, said: “The income grew to more than 44 billion dirhams in 2024, as a result of the strategic investment of the group in digital banking services, and the regional expansion, which in turn contributed to the availability of channels New for revenues. ”
He added: «98% of our new customers in the bank are currently registered, and our private and distinctive banking services offers are involved in a variety of leading products in the market, and they are available for an increasing number of wealthy customers.
Al -Qasim pointed out that all business units have achieved a distinguished performance represented in the registration of record numbers in the loans of individuals, while spending formed the use of credit cards in the UAE, a third of the market share, in addition to the new loans provided to companies, whose total value reached 88 billion dirhams, explaining that The share of the private sector of these loans is the percentage of two -thirds, as it benefits from the group’s regional presence.
In turn, the group’s CEO, Shane Nelson, said: “Emirates NBD has achieved exceptional income and profits, as a result of his success in achieving a maximum benefit from the main growth areas, including private banking services, wealth management, warranty and regional growth accounts in the size of companies and investment banking services.” .
He added, “The improved digital wealth platform has contributed to the growth of management assets to more than 44 billion dollars, as digital wealth transactions increased by nine times in 2024.”
Ahmed bin Saeed:
. The profits of the bank, before the tax, rose to an unprecedented level, which amounted to 27.1 billion dirhams, as a result of the “group” managed to improve its regional presence and expand its work.
. 82 billion dirhams growth in the deposit mixture during 2024, with an increase of 48 billion dirhams in the ongoing accounts and savings accounts.
. The total income of the bank exceeded the barrier of 44 billion dirhams last year.
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