Emirates NBD reported a strong first-half performance in 2025, with total income rising 12 per cent year-on-year to Dh23.9 billion, driven by strong loan growth, regional expansion, and continued innovation in product offerings.
Despite a nine per cent decline in net profit to Dh12.5 billion, the bank’s operating profit rose nine per cent, reflecting its resilience amid a changing interest rate environment and higher tax impact, Dubai’s largest lender said in a statement.
The group recorded a significant Dh41 billion increase in loans during the first half, representing 8 per cent growth, with nearly half of the incremental lending coming from international operations.
Deposits grew by Dh70 billion, a 10 per cent jump, including a record Dh48 billion boost in low-cost current and savings accounts — reinforcing Emirates NBD’s strength in deposit mobilisation.
Profit before tax stood at Dh15.4 billion, down 3 per cent year-on-year, impacted by a normalisation of impairment recoveries compared to the exceptional performance in the previous year. Operating expenses rose nineteen per cent to Dh7.3 billion, reflecting continued investments in talent, technology, and geographical footprint.
The bank’s flagship Islamic subsidiary, Emirates Islamic, posted a record profit of Dh1.9 billion in the first half of the year, underlining its growing stature in the Shariah-compliant banking segment. Customer financing grew 13 per cent, aligned with the broader loan momentum observed across the group.
A notable highlight was the bank’s performance in the card business. Emirates NBD captured a commanding 35 per cent share of UAE credit card spending, with total card volumes exceeding Dh100 billion. The newly launched SHARE credit card, co-branded with Majid Al Futtaim Group, became the fastest in the group’s history to cross the 10,000-card issuance milestone.
Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD, said the bank’s income surged 12 per cent in the first half on the back of exceptional loan growth and strategic expansion. “With continued consumer and business momentum, we now expect double-digit loan growth for the full year. Emirates Islamic continues to perform strongly and our innovative card offerings are gaining remarkable traction.”
Group CEO Shayne Nelson attributed the income growth to the bank’s long-term strategic investment in digital transformation, regional presence, and GenAI capabilities. “We successfully offset the impact of lower interest rates through diversified income streams, especially in wealth management, investment banking, and escrow services. Our big-data analytics ecosystem is now delivering tangible results, with over 50 active advanced analytics use cases,” he noted.
Patrick Sullivan, group CFO, highlighted the role of a favourable macroeconomic backdrop. “Despite a lower recovery rate compared to 2024 and the introduction of higher taxes, we maintained solid profitability. We posted a net impairment credit of Dh0.3 billion, underscoring the improving credit environment. Healthy capital generation and a strong balance sheet underpin our capacity for sustained growth.”
As of June 30, 2025, Emirates NBD’s total assets stood at Dh1.086 trillion, up seventeen per cent from a year ago. Gross loans grew twelve per cent to Dh570 billion, while customer deposits rose to Dh737 billion, an eighteen per cent increase.
The non-performing loan (NPL) ratio improved to 2.8 per cent, with an impressive coverage ratio of 155 per cent.The bank’s net interest margin (NIM) declined to 3.47 per cent from 3.59 per cent a year earlier, reflecting rate normalization. However, the cost-to-income ratio remained healthy at 30.3 per cent.
On the digital front, Emirates NBD continues to evolve into a data-first institution. Over ninety-three per cent of new current accounts were opened via mobile apps or assisted tablets. The ENBD X platform was launched in Saudi Arabia, enhancing digital banking capabilities in the Kingdom. The group also introduced crypto trading via Liv X in collaboration with Aquanow and Zodia Custody and entered into strategic partnerships with Visa’s Cybersource and blockchain payment platforms like Partior and iPID.
Wealth management continues to be a major growth pillar, with assets under management reaching $50 billion. The group remains committed to ESG goals, achieving the highest S&P Global ESG rating in the region and becoming the first bank in MENA to publish an ISSB report.
The lender said it expects continued economic tailwinds, supported by strong non-oil sector momentum in the UAE, rising oil production in the UAE and Saudi Arabia, and easing inflation in Türkiye. The bank’s transformation into a digital and environmentally responsible financial powerhouse positions it well to capitalize on emerging opportunities.
issacjohn@khaleejtimes.comis Managing Editor at media and has over 45 years of experience in top-tier newspapers across UAE. A seasoned business writer and economic analyst, he brings unmatched insight into the geopolitics and geoeconomics shaping the Gulf and India.
