Emirates NBD assets top AED1 trillion milestone
Emirates NBD's profit before tax rose 56% to AED7.8 billion ($2.12 billion) as strong lending momentum, an improvement in deposit mix and new products drove an 11% year-on-year increase in income.
The balance sheet surpassed the AED1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. Deposits grew by 5%, driven by a record AED27 billion increase in low-cost Current and Savings Account balances. Loans grew AED18 billion in the first quarter of 2025, with over half of the increase sourced from the growing international network, the bank said.
Emirates Islamic's quarterly profitability crossed the AED1 billion mark for the first time ever, highlighting its position as a leading Islamic bank in the UAE. The region's growing affluent population propelled Assets Under Management to $50 billion, affirming Emirates NBD's successful focus on Wealth Management and new products. Strategic investment in the group's regional footprint, digital and GenAI, are generating income, helping to offset the impact of lower interest rates, it said.
Key Highlights – Q1 2025
* Profit before tax 56% higher q-o-q on significant loan growth from regional expansion, a low-cost funding base and strong transaction volumes
• Assets surpass AED1 trillion milestone
• Total income up 5% to AED11.9 billion on strong loan growth and improving low-cost funding mix
• 3.5% loan growth in Q1-25, as lending grew AED18 billion with over half of the increase from international network
• Deposits grew AED31 billion in Q1-25, including a record AED27 billion increase in Current and Savings Accounts, reinforcing deposit mix as a key strength of the group
• Impairment credit of AED0.5 billion on impressive recoveries as clients benefit from a buoyant regional economy with impaired loan ratio improving to 3.1%
• Emirates Islamic's quarterly profit exceeded AED1 billion for the first time
* Emirates NBD's investment in customer focused services & products is propelling business growth
• 35% market share of UAE Credit card spend; over AED 50 billion Credit and Debit card spend in Q1-25
• Launched bank's first Abu Dhabi retail and lifestyle 'Darna' cobranded credit card in partnership with Aldar
• Excellent AED46 billion of new lending helped deliver 7% Retail loan growth and 6% Corporate loan growth in Q1-25
* Looking to the future, Emirates NBD is transforming into a data-first, digital-focused and environmentally responsible regional powerhouse
• Launched crypto trading through Liv X in partnership with Aquanow and Zodia Custody
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, said: 'Emirates NBD's profit before tax grew substantially by 56% to AED7.8 billion in the first quarter of 2025, driven by strong regional expansion, increased digital adoption, an outperforming funding base and sustained loan recoveries."
He said all business units achieved an outstanding performance as they delivered higher income year-on-year.
"The group commands a 35% market share of UAE Credit card spend, and we processed more than AED50 billion Credit and Debit card spend in the first quarter of 2025," he said.
Shayne Nelson, Group Chief Executive Officer, said: 'Emirates NBD delivered an 11% year-on-year increase in income, propelled by excellent loan growth and our ability to attract and retain low-cost deposits.
"The group's ability to substantially grow income is a direct benefit of the strategic investment in our regional footprint, Digital and GenAI, helping to offset the impact of lower interest rates.
"Innovative products have successfully harnessed key growth areas, including Private Banking, Wealth Management, Escrow, regional Corporate growth and Investment Banking.
"We continue to develop strategic partnerships to accelerate advanced digital payment solutions for clients and have expanded our collaboration with 3 exciting FinTech companies ranging from blockchain based payments to international beneficiary validation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
2 days ago
- Daily Tribune
Al Baraka Islamic Bank launches home check-in service for World Elite Mastercard holders
Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, is proud to announce the exclusive launch of the innovative Home Check-in Service for its valued World Elite Mastercard holders. This pioneering service enables customers to check-in their baggage and receive their boarding pass from the comfort of their home before boarding any Gulf Air flight, marking the first of its kind offered by a Bahraini bank. This unique initiative aligns with Al Baraka Islamic Bank's keenness to deliver diverse and distinguished services that enhance customer experience, catering to their need for comfort and luxury during travel. Developed in collaboration with Hala Bahrain, the service allows World Elite Mastercard holders to pre-book baggage check-in. A dedicated Hala Bahrain team will then visit the customer's residence to collect their luggage and complete all necessary shipping procedures, ensuring a seamless and hassle-free journey to the airport. Customers can simply visit the dedicated online platform and complete the required form at least 48 hours prior to their travel date. The Hala Bahrain team will follow up to coordinate the baggage pickup from the customer's home and issue the boarding pass. It is worth noting that this new service represents a significant addition to the range of exclusive privileges offered by the Al Baraka Islamic Bank World Elite Mastercard credit card in collaboration with Hala Bahrain, most notably free access to the luxurious Awal Private Terminal Lounge at Bahrain International Airport. Commenting on this new offering, Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, stated, 'We are proud to be the first bank in Bahrain to introduce this exclusive home check-in service in partnership with Hala Bahrain. It represents a significant step forward in providing superior services that surpass expectations and add genuine value to our customers' travel experience.' He continued, 'Delivering innovative solutions is part of our responsibility to enhance our customers' quality of life. This service embodies our commitment to our valued customers, embracing digital transformation in all valued added services that we provide as well as offering a comprehensive, convenient banking experience.' Dhaif added, 'We remain dedicated to developing more modern initiatives that meet our customers' aspirations and ensure their utmost comfort, reinforcing Al Baraka Islamic Bank's leading position in Islamic banking.' Al Baraka Islamic Bank is a leading Islamic bank in the Kingdom of Bahrain. Since its establishment in 1984, it has delivered outstanding results in operations and services for both individual and corporate clients. The bank has a proven track record of developing and providing innovative Shari'a-compliant investment solutions to a diverse global client base.
Daily Tribune
5 days ago
- Daily Tribune
Bahrain firm powers UAE launch
TDT| Manama Bahrain's fintech leadership is driving digital change in the UAE, with Bahrain-based Arab Financial Services (AFS) powering the launch of a fully app-based credit card solution in collaboration with Mawarid Finance. The new platform lets customers apply, receive, and manage credit cards instantly, without visiting a branch or signing a single form. Bahrain-built, region-ready The end-to-end solution, developed and enabled by AFS, marks a major milestone in the GCC's shift toward mobile-first financial services. Regulated by the Central Bank of Bahrain, AFS is playing a growing regional role in delivering seamless digital finance tools across borders. The app allows users to complete the full credit card journey - from application to approval to daily account management - directly from their smartphones. It eliminates the need for physical paperwork or in-person appointments and offers real-time access to spending data and account controls. Shariah-compliant and secure Mawarid Finance, the UAEbased Islamic finance group, partnered with AFS to design the solution to be both fully Shariah-compliant and aligned with modern security standards. Executives from both companies signed the agreement at a recent ceremony, underscoring their shared commitment to digital innovation. 'This platform reflects our commitment to making secure, efficient, and simple financial access a reality for our customers,' said Rashid Al Qubaisi, CEO of Mawarid Finance. AFS CEO Samer Soliman noted: 'Our partnership with Mawarid proves the strength of Bahrain's fintech sector in enabling advanced digital services across the region. It's a model of how traditional institutions and fintech can work together to deliver scalable, intuitive solutions.' Founded in Bahrain in 1984, AFS has become the region's leading digital payment solutions provider, with operations in Bahrain, Egypt, Oman, and the UAE. The launch with Mawarid adds to a growing list of projects where Bahrain-grown fintech tools are transforming user experience far beyond its borders.
Trade Arabia
5 days ago
- Trade Arabia
Aldar unveils Fahid Island, a costal wellness destination
Aldar has unveiled the masterplan for Abu Dhabi's next iconic island destination, Fahid Island, which has an 11 km coastline and a gross development value of over AED40 billion ($10.89 billion). With 4.6 km of pristine beachfront on one side of the island and serene mangrove forests on the other, the island is a wellness sanctuary offering a seamless connection to the water. Every part of the 2.7 million sq m island is no more than a five-minute walk to the water's edge, creating a vibrant island culture complete with refined coastal residences, curated leisure, and 5-star hospitality. More than 6,000 luxury residences are planned for the island, ranging from apartments and townhouses to ultra-luxury villas. The first residential development to be introduced on Fahid Island - Fahid Beach Residences -sets a new standard for exclusive beachfront living in Abu Dhabi. This limited collection of seven buildings, each featuring 65 residences, reflects a carefully crafted approach to privacy and world-class design. Top school part of the scheme Aldar has also partnered with a leading international institution to introduce an elevated education experience to Fahid Island in line with Abu Dhabi's vision to become a regional hub for excellence in education. The school will become an integral part of the community, providing a key differentiator for family life on the island. Stretching between Abu Dhabi's most desirable lifestyle destination, Yas Island, and its cultural centre, Saadiyat Island, Fahid Island is where entertainment and culture meet wellness. A celebration of contrasts, the island offers a unique mix of city and sand, retail and relaxation, energy and serenity, and all with exceptional connectivity – Yas Island's thrilling theme parks, Saadiyat Island's Cultural District, and Zayed International Airport are all accessible in under 15 minutes. Mohamed Al Mubarak, Chairman of Aldar, said: 'Abu Dhabi is a thriving, global destination where heritage and innovation combine to create a world-class environment to live, work, and explore. Sustainable and inclusive development has been a critical part of this success, which is why Aldar remains focused on delivering communities that reflect the values and ambitions of the UAE. Fahid Island is the latest chapter in that journey—building on the success of Saadiyat and Yas Islands to offer a new benchmark in premium waterfront living, wellness, and sustainable design." Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said: 'Our plans for Fahid Island support a thriving real estate market in Abu Dhabi, where we are seeing incredible demand from buyers within the local market as well as overseas investors. With a gross development value of over AED 40 billion, Fahid Island is one of the largest mixed use residential masterplans launched in Abu Dhabi and will ensure the emirate consolidates its position as one of the world's most desirable destinations to reside, invest, and visit.' Wellness focus Wellness is woven into the very fabric of life on Fahid Island, with thirty per cent of space dedicated to natural spaces – from lush vegetation and restorative gardens to invigorating green trails. A 10km landscaped Berm Park will not only create a natural visual and acoustic buffer but will also be the island's wellness and fitness corridor with running tracks and three cycling routes that seamlessly connect to Abu Dhabi's cycle loop. Water stations, shaded rest areas, and fitness nodes are strategically placed throughout to cater to athletes of all levels. Life on the water defines Fahid Island, with kite surfing, paddle boarding, illuminated night swimming, and volleyball all available to residents. The island's 2km waterfront promenade will serve as the island's social hub – with a vibrant mix of retail, dining, and art experiences – offering a community space to stroll, pause, relax and absorb the energy of the island. Coral Drive, the island's boutique retail boulevard will offer a unique selection of trendy outlets, concept stores, art galleries, ballet school and cafés as well as eclectic street furniture, and public artworks. Fahid Island is the world's first Fitwel certified island, highlighting the health-focused design of the destination. The island has also received LEED City and Communities Platinum precertification and is targeting an Estidama 3-Pearl rating. In addition, the masterplan has been designed to ensure and promote eco-friendly mobility and connectivity, with pedestrian bridges linking the two sides of the island, as well as a streetscape designed to prioritise foot traffic paired with a shading strategy using innovative design for outdoor thermal comfort.
