23 billion dirhams, Emirates NBD’s profits in 2024
Dubai, January 29 / WAM / Emirates NBD achieved record profits before the tax amounting to 27.1 billion dirhams for the year 2024, with a growth rate of 15% compared to the previous year, while profits after the tax grew by 7% to 23 billion dirhams.
A statement issued by the bank said today that the Board of Directors proposed the distribution of cash dividends of 100 fils per share.
The total income of the bank increased during the year 2024 to exceed the barrier of 44 billion dirhams; Where the strategic investment of the group in digital banking services and the branch network has achieved new unprecedented channels in revenue.
The loans grew by 10% in 2024, as the volume of new loans provided to companies reached 88 billion dirhams against the background of improving the regional network, while individuals ’loans increased by 30% as a result of the rapid growth of the activities and offers of distinctive and private banking services.
The depository mix of growth of 82 billion dirhams in 2024, with an increase of 48 billion dirhams in the current accounts and savings accounts.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Emirates NBD, said that the profits of the bank before the tax increased to an unprecedented level of 27.1 billion dirhams in 2024 as a result of the group managed to improve its regional presence and expand the scope of the work management and special banking services and private banking services .
He added that during the past year, loans in the Kingdom of Saudi Arabia achieved significant growth of 57%, supported by the expanded network of bank branches, which currently includes 21 branches and 62 automated ATMs.
His Highness expected that Dubai’s gross domestic product will grow by 5% in 2025, driven by the expansion of the main sectors, including infrastructure, transportation, hospitality and logistical services, and affirming Emirates NBD’s willingness to continue to advance the growth in the UAE and the region.
For his part, Hisham Abdullah Al -Qasim, Vice Chairman and Managing Director of Emirates NBD Group, said that the bank records 98% of its new customers digitally, and that its private banking services offers a variety of products and are available for an increasing number of customers with wealth.
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