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Emirates NBD reported a 67% surge in Q1 2024 profits to a record AED 6.7 billion, a 12% year-on-year increase. This was driven by regional growth, increased transaction volumes, a low-cost funding base, and substantial impaired loan recoveries. The bank's assets surpassed AED 900 billion, with strong performances in retail and corporate lending. Expansion in Saudi Arabia and digital capabilities also contributed to growth. Deposits increased by AED 26 billion, with AED 21 billion coming from low-cost Current and Savings Accounts. The bank also registered an impairment credit due to an improved economy. All business units performed well, boosting capital ratios and solidifying the bank's balance sheet.

The following text provides a summary of the condensed consolidated interim financial statements of Emirates NBD Bank (P.J.S.C.) for the three-month period ending on 31st March 2024.

Emirates Islamic reported a record profit of AED 811 million ($220.7 million) for Q1 2024, a 35% increase year-on-year. The bank's total income grew by 19%, driven by higher funded and non-funded income streams. Operating expenses increased by 1% as the bank invested in future growth. Impairment allowances decreased by 56% and operating profit grew by 28%. The bank's total assets increased by 8% to AED 95.0 billion, customer financing increased by 6% to AED 57.0 billion, and customer deposits increased by 9% to AED 66.7 billion. The bank's non-performing financing ratio improved to 5.8% and its capital adequacy ratio reflected a strong capital position at 19.9%.

The Ras Al Khaimah National Insurance Company P.S.C. has released its unaudited condensed interim financial information for the three-month period ending on 31 March 2024.

Response Plus Medical (RPM), a UAE-based provider of pre-hospital care and emergency medical services, has finalized its acquisition of UK-based Prometheus Medical, a former division of US-based Safeguard Medical. The acquisition is part of RPM's global expansion strategy and aims to enhance its service offerings and geographical reach. Prometheus Medical will continue to operate independently within RPM's portfolio and will be rebranded as Prometheus Medical International in the UK and Nordic region. RPM plans to expand into these regions and offer medical training services, VIP concierge medical services, and specialized medical training. Additionally, RPM now has the distribution rights for Safeguard Medical’s trauma care and simulation kits in the GCC and India.