Emirates NBD’s total income rises by 11% to $3.2 billion in the first quarter
Emirates NBD, a bank in Dubai, said on Tuesday that its total income went up by 11% in the first three months of 2025 compared to the same time last year. It made $3.2 billion (AED 11.9 billion), thanks to better types of deposits and new products it launched.
First Quarter Results
Emirates NBD made a profit of $2.1 billion (AED 7.8 billion) before tax in the first quarter. This is 2% more than the same time last year and 56% more than the previous quarter.
According to Hesham Abdulla Al Qassim, the bank’s vice chairman and managing director, the rise in profit was because of strong business growth in the region, more people using digital services, a strong funding base, and continued recovery of loans.
However, the net profit (after tax) dropped by 7% compared to the same time last year. But it still rose by 56% from the last quarter to reach $1.7 billion (AED 6.2 billion). This was better than what analysts expected, which was around $1.4 billion (AED 5.1 billion), according to Reuters.
The bank also said its total assets passed the $272.2 billion (AED 1 trillion) mark for the first time, thanks to strong loan and deposit growth driven by a healthy regional economy.
Al Qassim said that all parts of the bank performed well and made more money than last year. He added that loans grew by 3.5% in the first quarter, with lending increasing by $4.9 billion (AED 18 billion). Over half of this growth came from their international branches.
Emirates Islamic, part of the group, also had a strong quarter, making over $272.2 million (AED 1 billion) in profit for the first time. Its customer financing grew by 7% during the quarter.
Recent Partnership
Last month, Emirates NBD signed an agreement with BlackRock to set up a new investment platform. This platform will help the bank’s wealthy clients invest in private credit and other alternative assets.
At first, the bank will offer investment plans focused on income and growth, made especially for rich clients in the UAE.
BlackRock will help by providing marketing support, training, investor education, and technology tools. The goal is to make alternative investments more accessible for Emirates NBD clients across the Middle East.
Published: 23th April 2025
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