Emirates NBD PJSC, a leading financial institution in the United Arab Emirates, has reported a stellar financial performance for the year 2024. The bank's profit before tax surged by 15%, reaching a record AED 27.1 billion. This impressive growth is attributed to the bank's strategic regional expansion and the enhancement of its Wealth Management franchise.

The bank's total income rose to over AED 44 billion, fueled by strategic investments in digital banking and an extensive branch network. This move has generated significant new revenue streams, showcasing the bank's adaptability and forward-thinking approach in a rapidly evolving financial landscape.

Emirates NBD's various business units have all contributed to this outstanding performance. The bank provided AED 160 billion in new loans to customers, driving a remarkable 16% increase in assets. Notably, Emirates NBD has maintained a one-third market share of UAE credit cards, underscoring its dominance in the region.

Emirates NBD Capital, the bank's investment arm, has also had a record-breaking year. As the leading investment bank for UAE IPOs, it generated its highest-ever revenue during its busiest year for transactions. Meanwhile, Emirates Islamic, a subsidiary of Emirates NBD, reported a record profit of AED 2.8 billion, establishing itself as a powerhouse in Islamic banking within the UAE.

The bank's expansion into the Kingdom of Saudi Arabia has been particularly fruitful, with its loan book growing by an impressive 57% in 2024. This regional expansion is a testament to Emirates NBD's strategic foresight and its commitment to tapping into new markets.

In light of the bank's excellent performance, the Board of Directors has proposed a substantial ordinary dividend of 100 fils. This move reflects the bank's robust financial health and its commitment to delivering value to its shareholders.

Looking ahead, Emirates NBD's strategic investments and regional expansions position it well for continued growth. However, given the current market conditions and the bank's already high valuation, it may be prudent for investors to hold their positions and monitor future developments closely.