Middle East’s best bank 2023: Emirates NBD
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Middle East’s best bank 2023: Emirates NBD

Once again, Emirates NBD walks away with the award for the Middle East’s best bank. The Dubai bank posted net profit of $3.54 billion in the full year 2022, up 40% year on year, boosted by strong returns from investment banking, treasury sales income and trade finance. It has continued that strong performance in the current year, posting a first-quarter 2023 profit of $1.63 billion, bolstered by net interest income of $1.96 billion, up 69% year on year.

The bank’s success lies in its resilience, reach and diversified business model. It is a powerhouse in its home market, accounting for 19% of all banking deposits in the UAE at the end of 2022, as well as 17% of assets and 22% of total loans. It posted a return on tangible equity in 2022 of 17.1%, up from 12.8% a year earlier, with a net interest margin up from 2.53% to 3.43%

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