Emirates NBD, one of the Middle East’s largest banking groups, reported an income of Dh36.7 billion for the first nine months of 2025, driven by strong growth in both interest and non-funded income across all geographies and segments.
Operating profit rose 10 per cent year-on-year to Dh25.5 billion, reflecting “exceptional loan and deposit growth” that more than offset the impact of global interest rate cuts. Profit before tax climbed 6 per cent to Dh23.4 billion despite lower recoveries during the third quarter.
The results come as the group deepens its regional and international expansion strategy, highlighted by its landmark acquisition of a 60 per cent stake in India’s RBL Bank through a $3 billion preferential equity share issue — the largest foreign direct investment in India’s financial services sector to date. The transaction, announced on October 18, will make Emirates NBD the majority shareholder in RBL once regulatory approvals are secured, with completion expected by the second quarter of 2026. The bank will also merge its three existing India branches with RBL, creating a “listed foreign bank subsidiary” to capture India’s high-growth retail and SME markets.
Group Vice Chairman and Managing Director Hesham Abdulla Al Qassim said the results underscore Emirates NBD’s resilience and leadership. “We delivered Dh36.7 billion income, up 12 per cent, propelled by outstanding loan growth and a healthy deposit mix. Lending grew by a record Dh99 billion in the first nine months of 2025, as we continue to expand our market share in the UAE and across our other core markets,” he said.
The bank’s loan book swelled by an unprecedented Dh99 billion, a 19 per cent jump over the same period last year, while deposits surged by Dh94 billion (14 per cent), supported by a Dh56 billion increase in low-cost current and savings account balances. The Group’s strong performance reflects buoyant economic conditions, a robust credit environment, and strategic investments in customer-centric digital services.
Group CEO Shayne Nelson said the record performance and India investment reinforce the Group’s strategic direction. “Our $3 billion investment in RBL Bank is a testament to our confidence in India’s dynamic economy and our ambition to deepen Emirates NBD’s presence in our core markets. The Group’s ability to grow income substantially reflects the benefits of our strategic investments in regional footprint, digital innovation, and generative AI,” Nelson said.
Group CFO Patrick Sullivan said operating profit before impairment rose 10 per cent year-on-year, driven by resilient income in a lower rate environment. “Profit before tax increased 6 per cent to Dh23.4 billion, supported by strong asset growth and cost control. We’ve also revised our loan growth guidance upwards to the low-20 per cent range following a surge in demand during Q3,” he said, adding that the bank’s impaired loan ratio improved to 2.5 per cent on continued healthy credit trends.
Emirates NBD’s push toward a “data-first, digital-focused” strategy is also gaining momentum. Its ENBD X digital platform now serves over 2.4 million active users across the UAE and Saudi Arabia — a 49 per cent increase since 2023. The Group’s Digital Wealth platform, with over $53 billion in assets under management and more than Dh5 billion in local equity trading volumes within its first year, has strengthened its leadership in wealth management.
In Saudi Arabia, Emirates NBD continued to outperform with lending up 38 per cent during the first nine months of 2025. The Group expects to open two additional branches in the Kingdom by year-end, taking its total to 23. Emirates Islamic, the Group’s Shariah-compliant arm, also posted a record Dh3.2 billion profit before tax, cementing its position as a leading player in Islamic finance.
Emirates NBD maintained its top ranking for sustainable finance issuance in the MENAT region and achieved the highest ESG rating among regional banks from S&P Global. The Group financed and facilitated more than $8 billion in sustainable transactions during the period. Emirates Islamic also issued the world’s first $500 million sustainability-linked sukuk, reinforcing the Group’s ESG-Islamic finance integration.
- Dubai
