By Staff Reporter
Emirates NBD held its 18th General Assembly Meeting today, reviewing its strong performance in 2024 and reaffirming its role in Dubai’s economic growth.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, highlighted Dubai’s remarkable economic progress, noting a 3.2% GDP growth to AED 443 billion, driven by transport, hospitality, logistics, and financial services. He emphasized the bank’s commitment to Dubai’s Economic Agenda, D33, which aims to double the city’s economy by 2033.
“Emirates NBD continues to perform and transform as Dubai’s largest bank and the most profitable financial institution in the region,”
said H.H. Sheikh Ahmed.
The bank’s landmark financial performance in 2024 showcased:
Profit before tax up 15%, fueled by significant loan growth and strong transaction volumes.
Net profit of AED 23 billion, reflecting a 7% increase.
Total income rising to AED 44.1 billion on a stable, low-cost funding mix.
10% loan growth, with AED 88 billion in new corporate lending.
Deposit growth of AED 82 billion, including a AED 48 billion boost in Current & Savings Accounts.
Emirates Islamic reporting a record AED 2.8 billion profit, driven by 31% customer financing growth.
Emirates NBD also strengthened its sustainable finance offerings, launching Sustainable Fixed Deposits and an ESG-linked working capital facility, while introducing the region’s first Sustainability-Linked Loan Bond Framework. The bank has committed to USD 30 billion in sustainable finance and 25% female leadership representation by 2027.
The General Assembly approved a 100% cash dividend of AED 1 per share, amounting to AED 6.3 billion, with shareholders eligible as of March 6, 2025.
News Source: Emirates News Agency
