Emirates NBD bank reported significant growth of 57% in the credit sector in Saudi Arabia by 2024, supported by a developed network of branches, including currently 21 branches and 62 ATMs. This growth reflects the strategic development of the bank's international operations, aimed at increasing its presence in the region of the Middle East, North Africa, Turkey, and beyond.
"This story about our international development signifies growth, diversity, and flexibility, allowing us to expand our influence in the region of the Middle East, North Africa, Turkey, and beyond, enjoying unique opportunities that contribute to increasing our revenues," said a bank representative.
The Emirates NBD bank projected a net income of 44 billion dirhams in 2024, resulting from the strategic investments of the group in digital banking services and the emergence of new branches that previously did not establish income channels.
The Emirates NBD bank after tax payments amounted to 23 billion dirhams in 2024, an increase of 7%, the bank's board of directors proposed to pay dividends in the amount of 100 fils per share.
All subsidiaries of the bank reported outstanding results, concluding at the peak in offering new loans to clients for a total of 160 billion dirhams, which led to an increase in assets by 16%.
Emirates NBD bank demonstrated record growth in the market of Emirates NBD Capital, a subsidiary for primary placements in the United Arab Emirates, showing the highest ever revenues following an increase in transaction volumes in the busiest year.
The subsidiaries presented outstanding results, proposing to pay dividends in the amount of 100 fils.
Emirates Islamic also showed significant success in 2024, with a record profit before tax of 3.1 billion dirhams, which is 46% more than the previous year.
Emirates NBD bank expects that in 2025, the gross domestic product of Dubai will grow by 5% due to the expansion of key sectors, including infrastructure, transport, hospitality, and logistics. The key player Emirates NBD bank is ready to continue stimulating economic growth in the United Arab Emirates and the region.
