Emirates NBD delivered a record first-half profit of AED 13.8 billion for the six months ended 30 June 2024, a 12% increase on the equivalent period a year earlier, according to results published on 17 July 2024. The Dubai-based lender also reported that quarterly profit topped AED 7 billion for the first time in the group's history.
The loan book expanded by 6% to surpass the AED 500 billion threshold for the first time, while assets under management grew by 41% year-on-year to reach USD 25 billion.
EMIRATES ISLAMIC SURPASSES AED 100 BILLION
Emirates Islamic, the group's Sharia-compliant banking subsidiary, recorded a record H1 profit of AED 1.7 billion for the first half of 2024. Its balance sheet surpassed AED 100 billion during the period, a milestone the group described as a landmark.
OUTLOOK
Management's outlook pointed to healthy non-oil growth in the UAE and Saudi Arabia, a stabilising economic outlook in Egypt and falling inflation in Türkiye.