Emirates NBD cemented its position as the Middle East’s best bank with a landmark year of strategic expansion, digital leadership and record-breaking financial performance. As one of the region’s most diversified and forward-thinking banking groups, Emirates NBD continues to lead across multiple business lines and markets.
The bank’s financial performance in 2024 was exceptional, with profit before tax rising 15% year-on-year to a record Dh27.1 billion ($7.38 billion), and net profit reaching Dh23 billion, up 7%. Total income surged past Dh44 billion, underpinned by robust loan growth and strong contributions from its international and wealth management franchises. Emirates NBD’s international operations now account for 31% of total income, reflecting the success of its expansion strategy across the GCC, Asia and Europe.
Credit growth was a standout theme. The group recorded Dh160 billion in new loan origination, driving 30% year-on-year growth in advances. Retail loan origination grew 46% year-on-year, while private banking advances rose 51%, and assets under management in wealth increased 58%. Digital wealth assets alone grew fourfold, reflecting the bank’s success in integrating technology and investment offerings.
The momentum extended into Saudi Arabia, where the bank expanded its network to 21 branches and saw loan growth of 57% year-on-year. Emirates Islamic, the group’s Shariah-compliant subsidiary, also delivered a record profit of Dh2.8 billion, reinforcing its position as a leader in Islamic finance.
Digital wealth assets alone grew fourfold, reflecting the bank’s success in integrating technology and investment offerings
Emirates NBD was also a pioneer in sustainable finance innovation. In 2024, the bank issued the world’s first sustainability-linked loan financing bond aligned with the updated ICMA and LMA guidelines, raising $500 million. It also launched its first sustainable fixed deposit, attracting $100 million in inflows. Emirates NBD Capital, the global investment bank for Emirates NBD Group, facilitated over $34 billion in sustainable finance during the year – ranking as a top 12 global coordinator of emerging market ESG-labelled bonds.
Digital innovation remains central to Emirates NBD’s strategy. The group launched a new version of its award-winning ENBD X mobile app, now offering nearly 200 everyday banking services and boasting an app store rating of 4.7 stars. Digital adoption reached 91%, with over 1.6 million registered users, and 98% of new current accounts were opened digitally. ENBD X’s simplified onboarding journey delivered four times higher acquisition rates, while the rollout of ATM X software across more than 100 machines enhanced customer experiences with faster, more intuitive self-service options.
In the business banking segment, Emirates NBD pioneered a generative AI-driven onboarding process, significantly improving the speed and accuracy of corporate account setup. Meanwhile, its new digital wealth platform provided ENBD X users with access to over 18 global equity markets, all three UAE exchanges and new offerings such as fractional bonds, UAE mutual funds and structured products.
With industry-leading innovation, a diversified and expanding footprint and unwavering financial strength, Emirates NBD exemplifies what it means to be a regional banking champion.
