Emirates NBD’s profit before tax rose 56% to AED7.8 billion ($2.12 billion) as strong lending momentum, an improvement in deposit mix and new products drove an 11% year-on-year increase in income. 

 

The balance sheet surpassed the AED1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. Deposits grew by 5%, driven by a record AED27 billion increase in low-cost Current and Savings Account balances. Loans grew AED18 billion in the first quarter of 2025, with over half of the increase sourced from the growing international network, the bank said. 

 

Emirates Islamic’s quarterly profitability crossed the AED1 billion mark for the first time ever, highlighting its position as a leading Islamic bank in the UAE. The region’s growing affluent population propelled Assets Under Management to $50 billion, affirming Emirates NBD’s successful focus on Wealth Management and new products. Strategic investment in the group’s regional footprint, digital and GenAI, are generating income, helping to offset the impact of lower interest rates, it said. 

 

Key Highlights – Q1 2025

* Profit before tax 56% higher q-o-q on significant loan growth from regional expansion, a low-cost funding base and strong transaction volumes 

• Assets surpass AED1 trillion milestone

• Total income up 5% to AED11.9 billion on strong loan growth and improving low-cost funding mix  

• 3.5% loan growth in Q1-25, as lending grew AED18 billion with over half of the increase from international network

• Deposits grew AED31 billion in Q1-25, including a record AED27 billion increase in Current and Savings Accounts, reinforcing deposit mix as a key strength of the group

• Impairment credit of AED0.5 billion on impressive recoveries as clients benefit from a buoyant regional economy with impaired loan ratio improving to 3.1% 

• Emirates Islamic’s quarterly profit exceeded AED1 billion for the first time 

* Emirates NBD’s investment in customer focused services & products is propelling business growth 

• 35% market share of UAE Credit card spend; over AED 50 billion Credit and Debit card spend in Q1-25

• Launched bank’s first Abu Dhabi retail and lifestyle ‘Darna’ cobranded credit card in partnership with Aldar

• Excellent AED46 billion of new lending helped deliver 7% Retail loan growth and 6% Corporate loan growth in Q1-25

* Looking to the future, Emirates NBD is transforming into a data-first, digital-focused and environmentally responsible regional powerhouse  

• Launched crypto trading through Liv X in partnership with Aquanow and Zodia Custody

 

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, said: “Emirates NBD’s profit before tax grew substantially by 56% to AED7.8 billion in the first quarter of 2025, driven by strong regional expansion, increased digital adoption, an outperforming funding base and sustained loan recoveries."

He said all business units achieved an outstanding performance as they delivered higher income year-on-year.

"The group commands a 35% market share of UAE Credit card spend, and we processed more than AED50 billion Credit and Debit card spend in the first quarter of 2025," he said.

 

Shayne Nelson, Group Chief Executive Officer, said: “Emirates NBD delivered an 11% year-on-year increase in income, propelled by excellent loan growth and our ability to attract and retain low-cost deposits.

 

"The group’s ability to substantially grow income is a direct benefit of the strategic investment in our regional footprint, Digital and GenAI, helping to offset the impact of lower interest rates.

 

"Innovative products have successfully harnessed key growth areas, including Private Banking, Wealth Management, Escrow, regional Corporate growth and Investment Banking. 

 

"We continue to develop strategic partnerships to accelerate advanced digital payment solutions for clients and have expanded our collaboration with 3 exciting FinTech companies ranging from blockchain based payments to international beneficiary validation.

 

"We actively use big-data analytics for deep data mining, expanding new merchant acquiring opportunities and have over 50 active Advanced Analytics use cases, positioning Emirates NBD as a data-first bank.” - TradeArabia News Service