The Emirates NBD Bank has reported that its net profits for the first half of the year reached AED 12.5 billion, reflecting a 9% decline compared to the same period last year. However, the bank’s revenues saw a 12% increase, totaling AED 23.9 billion. This growth can be attributed to the strong demand for loans as the bank expands regionally and introduces innovative products and services. Lending volume rose by AED 41 billion, an 8% increase in the first half of 2025, supported by robust demand both within the UAE and through its growing international network. Deposits also increased, amounting to AED 70 billion or 10% in the same period, bolstered by a record rise of AED 48 billion in current and low-cost savings accounts. Operating profits grew by 9%, benefiting from a strong momentum in loans and deposits, enabling the bank to absorb declines in interest rates experienced during the previous period.
Emirates Islamic Bank achieved record profits of AED 1.9 billion in the first half of 2025, highlighting its position as a leading Islamic bank in the UAE. The increasing affluent population in the region propelled managed assets to USD 50 billion, underscoring Emirates NBD’s successful focus on wealth management and new product offerings. Furthermore, strategic investments featuring regional presence, alongside digital services and generative artificial intelligence, contributed to income that offsets the impact of declining interest rates.
Key Financial Highlights for the First Half of 2025
– Operating profits increased by 9% compared to the same timeframe last year, reflecting a solid momentum in the growth of loans and deposits and regional expansion.
– Revenue rose by 12% to AED 23.9 billion compared to the prior year, driven by strong loan growth and ongoing momentum from innovative product offerings.
– Loans grew by 8% in the first half of 2025, amounting to AED 41 billion, with nearly half of this increase coming from international operations.
– Deposits increased by AED 70 billion in the first half of 2025, including a record rise of AED 48 billion in current and savings accounts, reinforcing the deposit mix as a key strength for the group.
– A reversal of impairment provisions of AED 0.3 billion was recorded due to significant recoveries as clients benefited from the thriving regional economy, resulting in a reflectively low non-performing loan ratio of 2.8%.
– Emirates Islamic continued its strong growth trend, achieving profits of AED 1.9 billion in the first half of 2025.
– The group holds a 35% market share in credit card spending in the UAE, with total spend exceeding AED 100 billion in the first half of 2025.
– The “Share” credit card, co-branded with Majid Al Futtaim Group, is now the fastest card ever launched by the group, reaching 10,000 issuances.
– Emirates NBD is recognized as one of the top banks in the region for providing an exceptional customer experience, scoring 50 points on the Net Promoter Score.
– The expansion of the Saudi Arabia branch network has led to notable loan growth of 27% in the first half of 2025.
– Strong momentum from new loan issuance of AED 92 billion contributed to a growth of 13% in personal and corporate loans in the first half of 2025.
– An impressive 93% of new current accounts were opened via mobile or tablet-enabled applications.
– Managed assets across the group reached USD 50 billion, reflecting the continued success of the group’s wealth management strategy.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group, stated that the bank’s revenue increased by 12% to AED 23.9 billion in the first half of 2025, driven by robust loan growth, regional expansion, and innovative product offerings.
He added that lending volume grew by AED 41 billion in the first half of 2025, and he anticipates a doubling of loan growth for the entire year as consumer spending power and business confidence remain strong.
Emirates Islamic’s profits reached a record AED 1.9 billion, showcasing a very strong growth in financing offered to clients, with a 13% increase in the first half of 2025, reflecting its stature as a key Islamic banking player in the UAE.
The group has captured a 35% market share in credit card expenditure throughout the UAE, processing transactions exceeding AED 100 billion in the first half of 2025.
Additionally, the successful launch of the “Share” credit card, co-branded with Majid Al Futtaim Group, marks it as the fastest card issued by the group to date, reaching 10,000 issuances.
Shayne Nelson, Group CEO, reported a 9% increase in operating profits compared to the previous year, attributing this growth to exceptional increases in loan volume and the bank’s capacity to attract and retain low-cost deposits.
He further noted that they have worked diligently to enhance Emirates NBD’s leadership position in the UAE concerning current and low-cost savings accounts, which accounted for AED 48 billion of the total AED 70 billion in deposit growth in the first half of 2025.
Patrick Sullivan, Group Chief Financial Officer, stated that pre-tax profits amounted to AED 15.4 billion, despite a decline of about AED 2 billion in collections in the first half of 2025 compared to strong collections from the previous year.
The credit environment remains positive, buoyed by a thriving economy, leading to a reversal of net impairment provisions by AED 0.3 billion and a favorable revision of credit standards.
Building sustainable capital has aided in supporting strong and noticeable loan growth, while Emirates NBD’s robust balance sheet reinforces its role as a regional hub, providing a conducive platform for future growth.
Clearly, investment in human resources, network presence, technology, and product offerings continues to create new income streams.
Outlook
The non-oil sector in the UAE sustained its momentum from 2024 into the first half of 2025, driven by high spending levels on projects from both the private and public sectors, alongside strong consumer consumption. Real estate transactions in Dubai surpassed levels seen in 2024, while price growth remained moderate. In Saudi Arabia, significant government investment supports growth, and non-oil activity persists at high levels. Increases in oil production in both the UAE and Saudi Arabia are also expected to provide an additional boost to GDP. The Egyptian economy is growing as the balance of payments situation improves, while inflation in Turkey declines due to supportive monetary policies.