Emirates NBD posts record H1 2026 profit as assets top AED 1.3 trillion
Emirates NBD reports record H1 2026 pre-tax profit of AED 16.2bn as assets top AED 1.3tn; loans rise 17% and deposits climb 13% following RBL acquisition.
Emirates NBD reported a record financial performance in the first half of 2026, posting pre-tax profit of AED 16.2 billion and net profit after tax of AED 12.9 billion. The bank said the results were driven by a 13% rise in net interest income and a 25% increase in non-funded income, reflecting broad-based client activity. Total assets exceeded AED 1.3 trillion as lending and deposit growth accelerated, supported by the recent consolidation of RBL. Management described the outcome as evidence of the UAE’s economic strength and the group’s ability to capture new market opportunity.
Record half-year profit driven by interest and non-funded income
Emirates NBD’s pre-tax profit for H1 2026 rose 5% year-on-year to AED 16.2 billion, while net profit after tax increased 3% to AED 12.9 billion. The bank highlighted a 13% increase in net interest income, underpinned by higher lending volumes and margin management. Non-funded income, which includes fees and commissions, grew by 25%, reflecting stronger transactional and advisory activity across the group.
Balance sheet expands above AED 1.3 trillion
The group’s balance sheet surpassed AED 1.3 trillion in the period, a milestone management attributed to client activity and strategic expansion. Total loans and advances increased 17% to AED 771 billion, driven by corporate and retail lending momentum in the UAE. Deposits rose 13% to AED 892 billion, reinforcing the bank’s funding position and supporting continued credit growth.
RBL acquisition adds scale to lending and deposits
The acquisition of RBL contributed materially to the half-year expansion, adding AED 74 billion to total assets. Consolidation of RBL’s portfolio added AED 44 billion to the group’s loan book and AED 43 billion to deposits, enhancing scale and market reach. Bank executives described the integration as a strategic step that strengthens Emirates NBD’s presence in markets with growth potential.
Asset quality and risk metrics remain resilient
Emirates NBD reported that asset quality held up through the period, with the cost of risk recorded at 42 basis points. The bank said provisions and risk management actions supported a stable credit profile despite the rapid growth in lending. Management emphasised that prudent provisioning and active portfolio oversight underpinned the resilience of the group’s loan book.
Wealth management and client flows support revenue diversity
Assets under management stood at USD 105 billion, reflecting sustained client demand for wealth and investment services. The group noted double-digit growth in its UAE business since April 2026, driven by increased client activity and inflows. Emirates NBD’s executives pointed to global wealth flows and local economic momentum as key drivers for continued expansion of fee-generating businesses.
Management highlights UAE economic momentum and strategic priorities
Vice Chairman and Managing Director Hisham Abdullah Al Qassim said the half-year performance reflects the UAE’s economic strength and growing investor confidence. He welcomed RBL into the group, calling the acquisition a qualitative addition to the bank’s growth trajectory. Group Chief Executive Shane Nelson said Emirates NBD is well positioned to capitalise on wealth flows and client activity while maintaining disciplined asset management.
The bank’s results signal a period of accelerated scale alongside careful risk management, as management balances integration work with organic growth. Emirates NBD will focus on completing the RBL integration while leveraging its enlarged balance sheet to meet client needs across corporate, retail and wealth divisions.
Market observers will watch the bank’s ability to sustain margin and fee momentum through the remainder of 2026 and into next year. The bank’s improved deposit base and larger loan book provide a platform for continued revenue growth, but execution on integration and cost control will be key. Expectations are that Emirates NBD will use its enhanced scale to deepen client relationships and expand product offerings across the region.
The half-year figures underline Emirates NBD’s commitment to supporting economic activity in the UAE and the wider region while pursuing strategic acquisitions that add scale and capability. Management said the group remains focused on delivering sustainable returns, integrating new businesses efficiently, and capturing opportunities from rising client wealth and commercial activity.