DUBAI, (Pakistan Point News - 26th Oct, 2023) Emirates NBD’s profit surged 92 percent to AED 17.5 billion in the first nine months of 2023 on significant loan growth, a stable low-cost funding base, increased transaction volumes and substantial recoveries.
Third quarter (Q3 2023) profit exceeded AED 5 billion for the third consecutive quarter reflecting a buoyant regional economy.
Emirates NBD’s market-leading deposit franchise grew AED 67 billion, including AED 33 billion of low-cost Current and Savings Accounts in 2023.
Strong Retail lending momentum, coupled with landmark multinational-customer deals drove a healthy 8 percent loan growth. All business units delivered higher income.
It is worth noting that Emirates NBD is the Principal Banking Partner for COP28. The Group successfully launched its Sustainable Finance Framework and raised US$750 million with the largest green bond ever issued by a regional bank, assisting customers in aligning to the UAE Vision 2030.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, said, "We pledged our commitment to Net Zero 2050 and Gender Balance goals in the UAE and are proud to be the Principal Banking Partner of COP28.”
