Latest news with #AED18
Hi Dubai
22-04-2025
- Business
- Hi Dubai
Emirates NBD Posts Record AED7.8 Billion Pre-Tax Profit in Q1 2025
Emirates NBD reported a 56% year-on-year surge in profit before tax, reaching AED7.8 billion in the first quarter of 2025. The bank credited strong lending momentum, an improved deposit mix, and the introduction of new products for driving an 11% rise in total income. Quarter-on-quarter, profit also climbed 56% to AED6.2 billion, supported by higher income, lower operating costs, and an impairment credit, highlighting the bank's strong operational efficiency and financial resilience. The lender's balance sheet crossed the AED1 trillion mark for the first time, underpinned by robust loan and deposit growth amid a buoyant regional economy. Loans rose by AED18 billion during the quarter, with over half of this growth stemming from Emirates NBD's expanding international network. Customer deposits increased by 5%, bolstered by a record AED27 billion rise in low-cost Current and Savings Account (CASA) balances, further enhancing the bank's liquidity and funding profile. With a solid start to the year and sustained economic momentum in the region, Emirates NBD continues to strengthen its position as a leading financial institution in the Middle East. News Source: Emirates News Agency
Trade Arabia
22-04-2025
- Business
- Trade Arabia
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.
Arabian Business
22-04-2025
- Business
- Arabian Business
Emirates NBD's balance sheet crosses AED1 trillion after strong Q1 numbers
Emirates NBD 's balance sheet surpassed the AED1 trillion (US$272.3 billion) milestone in the first quarter of 2025, as the bank posted strong results, including a 56 per cent rise in profit before tax to AED7.8 billion (US$2.12 billion) and an 11 per cent year-on-year increase in income. The performance followed another quarter with strong lending momentum, an improvement in deposit mix, and new products. Impressive loan and deposit growth in a buoyant regional economy boosted the balance sheet. Deposits grew by 5 per cent (AED31 billion), driven by a record AED27 billion (US$7.35 billion) increase in low-cost current and savings account balances. Loans grew AED18 billion (US$4.9 billion) during the quarter, with over half of the increase sourced from the bank's growing international network. Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, commented: 'Emirates NBD's profit before tax grew substantially by 56 per cent 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. 'All business units achieved outstanding performance as they delivered higher income year-on-year. The Group delivered a very impressive 3.5 per cent loan growth in Q1 as lending grew AED18 billion, with over half of the increase being sourced from our growing international network.' Earlier this year, Emirates NBD acquired the remaining 0.11 per cent stake in Emirates Islamic Bank (EIB) to take full ownership and delisted it. In the first quarter, Emirates Islamic's quarterly profitability crossed the AED1 billion mark for the first time ever. Shayne Nelson, Group Chief Executive Officer, added: 'Emirates NBD delivered an 11 per cent 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 three exciting FinTech companies ranging from blockchain-based payments to international beneficiary validation.' Emirates NBD reported impairment credit of AED0.5 billion on impressive recoveries as clients benefit from a buoyant regional economy. Impaired loan ratio improved to 3.1 per cent. The bank now enjoys a 35 per cent market share of UAE credit card spend, with over AED50 billion credit and debit card spend during the quarter. Patrick Sullivan, Group Chief Financial Officer said: 'The group's low-cost Current and Savings Account deposit base grew by a record AED27 billion in the first quarter, helping absorb the impact of lower interest rates. 'The credit environment remains healthy, and clients continue to benefit from a buoyant economy, leading to a net impairment credit of AED0.5 billion.'
Emirates Woman
28-02-2025
- Business
- Emirates Woman
UAE salary guide 2025: See how much you should be earning
And see which are the most in-demand jobs for 2025… Global recruitment firm Michael Page has published its UAE salary guide for 2025 – providing an insightful and comprehensive guide to the UAE job market and the most in-demand roles for the year ahead. ADVERTISING The UAE Salary Guide 2025 also gives an idea of how much sectors are earning on average, allowing you to better understand where the highest and lowest paid salaries are. The salary guide looks at 17 key industry sectors, covering everything from banking and legal to property, retail and digital. According to the Michael Page data, from those surveyed, 52% of employees are satisfied with their salary, up from 44% the previous year. And while there has been a decline from 74%, 65% of the workforce is still considering a job switch in 2025. See below for what you should be earning in your sector in the UAE in 2025. Banking and financial services Average salaries for entry level roles in the banking sector for relationship managers and client services officers sit at AED25,000 per month. Top senior roles of Managing Director level average between AED100,000 and AED120,000 monthly. With a surge in UHNWI's moving to the UAE and a growing asset management industry, there's increased demand for two main roles: fundraising/institutional sales and compliance professionals. Data and analytics The data landscape is evolving rapidly, largely with the rise of AI, and while classic data roles remain in demand, there's now a need in the UAE for new-age AI and machine learning skills. Data analysts and data quality analysts are averaging AED25,000 per month, while data science managers can expect around AED50,000 per month. Those in AI specialist roles can expect anywhere between AED35,000 and AED45,000. Digital The region continues to make its mark as a global hub for innovation, and demand for skilled digital professionals has never been higher. But with demand comes selectivity – and employers are seeking digital pioneers rather than just the basics. Digital marketing executives can expect anywhere between AED12,000 and AED18,000 monthly, while digital marketing managers should expect between AED18,000 and AED35,000. Graphic designer salaries range from AED12,000 to AED25,000, while a head of digital marketing can look for a salary between AED35,000 and AED60,000. Human Resources Traditional HR roles are in much less demand than those who can offer specialized HR services, like learning and development, talent acquisition, organisational design and talent management to drive strategic growth. General HR roles average salaries of AED25,000, while talent acquisition specialists averaging AED25,000, AED40,000 or AED65,000 depending on their level. Legal Private law firms in the UAE – like they are globally – are looking to add strength and depth to their practices. Existing regional experience is essential for the better paid roles. Entry level legal secretaries are earning an average of AED22,500, while newly qualified lawyers average AED37,000. Partners at private legal practices average between AED90,000 and AED180,000. Retail View this post on Instagram A post shared by @stylegator Identifying and attracting talent with the right mix of expertise and adaptability are key in the retail sector. The most in-demand roles are those with expertise in omni-channel marketing and e-commerce. Sales associate roles average between AED11,000 and AED14,000 per month, while store managers earn between AED25,000 and AED35,000. Retail directors and general managers can expect salaries of between AED50,000 and AED80,000. Sales and Marketing While there's been a noticeable surge in recruitment for B2B roles, consumer marketing hiring was quieter in the last year – so those with multi-country experience and more senior levels are the ones most in-demand. In consumer roles, entry level salaries start from AED14,000 on average, while CMOs can expect AED70,000 to AED120,000. In B2B marketing, executive and research roles start from AED10,000 per month, ranging up to AED90,000 average monthly salary for COO's and heads of marketing. Secretarial The competition in the secretarial sector is fierce, and having traditional skills is no longer enough. To stand out, candidates need to up skill and tailor applications to market needs. Those that are bilingual, have UAE experience, and project management skills are most in-demand. Receptionists can expect anywhere between AED8,000 and AED16,000 depending on their sector, while personal assistants can look at AED14,000 to AED30,000 depending on sector and experience. Images: @jesshunt2
