Emirates NBD PJSC logotype

Emirates NBD PJSC

EMIRATESNBD

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Emirates NBD PJSC

Logotype for Emirates NBD PJSC
Ticker/ISIN
EMIRATESNBD
AEE000801010
Market/Country
Dubai Financial Market
United Arab Emirates

About Emirates NBD PJSC

Country of Origin: United Arab Emirates (U.A.E)

Emirates NBD PJSC (the “Bank”) was incorporated in the United Arab Emirates on 16 July 2007, under the Commercial Companies Law (Federal Law Number 8 of 1984 as amended) as a Public Joint Stock Company. The Bank was incorporated principally to give effect to the merger between Emirates Bank International PJSC (“EBI”) and National Bank of Dubai PJSC (“NBD”). The merger became effective from 16 October 2007, while the legal merger was completed on 4 February 2010. Post this date, EBI and NBD ceased to exist. The Bank and its subsidiaries are (together referred to as the “Group”). The Bank is listed on the Dubai Financial Market. The Group’s principal business activity is corporate, consumer, treasury, investment banking, Islamic financing and asset management services. The parent company of the Group is Investment Corporation of Dubai, a company in which the Government of Dubai is the majority shareholder.

Latest Pressrelease Summaries from Emirates NBD PJSC

Emirates NBD reported a 56% increase in profit before tax, reaching AED 7.8 billion, driven by strong loan growth and an improved deposit mix, resulting in an 11% year-on-year income increase. The bank's assets exceeded AED 1 trillion, supported by significant loan and deposit growth in a robust regional economy. Deposits rose by 5%, with a record AED 27 billion increase in low-cost Current and Savings Accounts, while loans grew by AED 18 billion in the first quarter of 2025, with more than half from the international network. Emirates Islamic achieved quarterly profitability exceeding AED 1 billion for the first time, underscoring its position as a leading Islamic bank in the UAE. The growing affluent population in the region boosted Assets Under Management to USD 50 billion, highlighting Emirates NBD's focus on Wealth Management and new products. Strategic investments in the Group's regional presence, digital capabilities, and GenAI are contributing to income, mitigating the effects of lower interest rates. Key highlights for Q1 2025 include a 56% increase in profit before tax due to significant loan growth from regional expansion, a low-cost funding base, and strong transaction volumes. Total income rose by 5% to AED 11.9 billion. Loans grew by 3.5% in Q1 2025, with AED 18 billion in lending, and deposits increased by AED 31 billion, including a record AED 27 billion in Current and Savings Accounts. The impaired loan ratio improved to 3.1% due to impressive recoveries, and Emirates Islamic's quarterly profit exceeded AED 1 billion for the first time. Other financial metrics include a net profit of AED 6.2 billion, expenses of AED 3.7 billion, a net interest margin of 3.58%, a cost-to-income ratio of 30.9%, a non-performing loan ratio of 3.1%, and a CET-1 ratio of 14.7%.
Date: 22 April 2025 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, P.O. Box 9700, Dubai - United Arab Emirates Subject: Disclosure of the results of Emirates NBD Bank (P.J.S.C) Board of Directors Meeting The Board of Directors of Emirates NBD Bank (P.J.S.C) held a meeting on Monday, 21st April 2025, where they discussed the following agenda items: 1. Approval of the previous Board of Directors meeting minutes held on 28 January 2025. 2. Approval of the financial results for the three-month period ended 31 March 2025. 3. Discussion of normal business activities. Best Regards, Dr. Ahmed Alkhalfawi, Group Company Secretary, Emirates NBD Bank (P.J.S.C) Cc: Securities & Commodities Authority
On 16th April 2025, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market, regarding an upcoming earnings call meeting for Emirates NBD Bank (P.J.S.C). The meeting is scheduled for Tuesday, 22nd April 2025, at 2:00 PM, to discuss the financial results for the first quarter ending 31st March 2025. Further details can be found on the Emirates NBD's Investor Relations website. The letter was signed by Dr. Ahmed Saeed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank, with a copy sent to the Securities & Commodities Authority.
On April 16, 2025, a letter was sent to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, from Emirates NBD Bank (P.J.S.C), informing him of an upcoming Board of Directors meeting. The meeting is scheduled for April 21, 2025, at 3:30 pm. The agenda includes approving the minutes from the previous meeting, approving the financial results for the quarter ending March 31, 2025, and discussing normal business activities. The letter is signed by Dr. Ahmed Saeed Alkhalfawi, Group Company Secretary, with a copy sent to the Securities & Commodities Authority.
Since January 2023, there has been press speculation about Emirates NBD Bank PJSC being involved in potential acquisitions in the region, including in Egypt. The bank regularly explores growth opportunities through both internal resources and external operations like mergers and acquisitions. Emirates NBD confirms that, to date, there have been no material developments necessitating a specific announcement regarding these speculations. Should any significant developments occur, the bank will disclose them in accordance with its regulatory obligations. For further inquiries, contact Patrick Clerkin, Group Head of Investor Relations, or Ibrahim Sowaidan, Group Corporate Affairs.
The disclosure clarifies the approval process for proxies to attend the General Meeting in accordance with Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. Shareholders can delegate someone, not a board member, company staff, or securities brokerage employee, to attend and vote at the general assembly on their behalf through a written delegation. The delegate cannot represent more than 5% of the company's issued capital. Legal representatives must represent those lacking legal capacity. The shareholder's signature on the power of attorney must be verified by a Notary Public, a chamber of commerce or economic department, a licensed bank or company where the shareholder holds an account, licensed financial markets, or any other licensed attestation entity.
In 2024, Emirates NBD achieved a record profit before tax of AED 27.1 billion, marking a 15% increase. The growth was driven by the expansion of its regional presence and enhancement of its Wealth Management franchise. The bank's income rose to over AED 44 billion, bolstered by strategic investments in digital banking and branch networks, resulting in significant new revenue streams. The bank provided AED 160 billion in new loans, increasing assets by 16% and maintaining a one-third market share of UAE credit cards. Emirates NBD Capital reported its highest-ever revenue during a busy year for transactions, while Emirates Islamic recorded a profit of AED 2.8 billion, solidifying its position in the Islamic banking sector. The bank's branch expansion in Saudi Arabia led to a 57% growth in its loan book. The Board of Directors proposed a 100 fils dividend in response to the strong performance. Key highlights for 2024 included a 15% increase in profit before tax due to significant loan growth, a low-cost funding base, strong transaction volumes, and substantial recoveries. Profit after tax rose by 7% to AED 23 billion. Total income reached AED 44.1 billion, supported by strong loan growth and a stable, low-cost funding mix. The bank experienced a 10% loan growth, with AED 88 billion in new corporate lending and a 30% increase in retail lending. Deposits grew by AED 82 billion, with a notable increase in Current & Savings Accounts. The impairment charge was AED 0.1 billion, with a record low cost of risk, and the impaired loan ratio improved to 3.3%. Emirates Islamic's record profit was driven by a 31% growth in customer financing. Earnings per share increased by 7% to 356 fils.
Emirates NBD Bank PJSC has announced the extension of the nomination period for its Board of Directors to December 10, 2024. Shareholders who meet the eligibility criteria can apply for board membership via email, specifying their desired role as Non-Executive or Independent Director. Nine board members are to be elected, and nominations are open for ten days following the announcement, per governance guidelines. Applicants must adhere to specific corporate governance and regulatory standards, and nominations cannot be transferred to others. All applications are subject to evaluation and Central Bank approval. The bank will disclose nominee details on its website two days before the Annual General Assembly Meeting. Required documents, including identification, must be submitted with the application, or it will be considered void.

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Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: BOD meeting

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Financial statements for the 3rd QTR of 2024

Emirates NBD Bank (P.J.S.C.) has released its group condensed consolidated interim financial statements for the nine-month period ending on September 30, 2024.

1. Attached Document 2. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Earnings Call

On 11 October 2024, Emirates NBD Bank announced that an Earnings Call Meeting is scheduled for 17 October 2024 at 2:00 PM. The meeting will discuss the financial results for the third quarter ending 30 September 2024. Further details can be found on the Emirates NBD website. The announcement was addressed to Hamed Ahmed Ali, CEO of the Dubai Financial Market, and was also copied to the Securities & Commodities Authority. The letter was sent by Dr. Ahmed Saeed Alkhalfawi, Group Company Secretary of Emirates NBD Bank.

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: BOD meeting

The Board of Directors of Emirates NBD Bank (P.J.S.C) is scheduled to meet on Wednesday, 16 October 2024, at 3:30 PM. The agenda includes approving the minutes of the previous board meeting, reviewing the financial results for the three-month period ending 30 September 2024, and discussing any other business. The letter is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and is sent with a copy to the Securities & Commodities Authority. The letter is signed by Dr. Ahmed Saeed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank.

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Press release regarding financial results for the First Half of 2024

Emirates NBD reported a record profit of AED 13.8 billion in the first half of 2024, a 12% increase year-on-year, driven by strong lending growth and substantial impaired loan recoveries. The bank's lending grew by 6%, surpassing AED 500 billion for the first time. All business units performed exceptionally well, with significant achievements in retail lending, UAE credit card market share, and a 41% year-on-year increase in Assets Under Management. Corporate lending originated AED 48 billion in new loans, contributing to the bank's robust capital ratios and solid balance sheet. Key highlights include a total income of AED 21.4 billion, a 3.65% net interest margin, and record profits from Emirates Islamic. Earnings per share rose by 13% to 214 fils.

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Financial statements for the 2n QTR of 2024

Emirates NBD Bank (P.J.S.C.) has released its group condensed consolidated interim financial statements for the six-month period ending June 30, 2024.

1. Attached Document 2. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Results of BOD Meeting

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: Earnings Call

1. Attached Document

Dubai Financial Market News profile image

Dubai Financial Market News

News Update From Emirates NBD PJSC

Disclosure: BOD meeting

1. Attached Document

FinDiesel profile image

FinDiesel

Commented on AkSharesKumars Transaction regarding Emirates NBD PJSC

Nice move picking up Emirates NBD! Solid play in the Financials sector. With your portfolio mix, this adds strength and balance. Keep driving forward, brother! 💪🚗💨
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