Latest news with #ENBDX
Arabian Business
11-08-2025
- Business
- Arabian Business
Emirates NBD's zero-fee trading hits $1.4bn in first year
Emirates NBD is celebrating one year since the launch of its zero-transaction-fee trading initiative for UAE-listed equities on its award-winning ENBD X digital wealth platform — a move that has boosted market participation and broadened access to local investments. Since its debut on 26 August 2024, the initiative has delivered impressive results: More than 300,000 commission-free trades executed on the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai AED5bn ($1.36bn) in total trade volume Access to more than 150 UAE-listed equities via the ENBD X app Emirates NBD trading The zero-fee model has attracted a growing base of first-time investors, young professionals, and everyday savers, helping democratise wealth creation and align with the UAE's 'We the UAE 2031' strategy to deepen capital market development and enhance financial inclusion. ENBD X integrates banking, investment, and advisory services into one seamless digital experience, offering real-time trading, instant onboarding, and customisable price alerts for timely market decisions. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said: 'We are pleased to see an outstanding response to the zero-transaction-fee trading initiative that we launched on our digital wealth platforms, accessible via ENBD X. 'One year on, our customers have embraced purposeful investment by investing in local equities. As a leading national bank, we are proud to transform how people invest, by providing an inclusive, accessible, transparent and affordable platform, while also supporting local businesses. 'This has contributed profoundly to the long-term growth of the UAE economy in line with the vision of our wise leadership.' The initiative follows Emirates NBD's earlier launch of fractional bonds on ENBD X, underscoring the bank's commitment to innovation and broadening access to financial markets. By removing barriers to entry, Emirates NBD is positioning ENBD X as a gateway to the UAE's financial future, driving both personal wealth creation and national economic growth.
Gulf Today
11-08-2025
- Business
- Gulf Today
Emirates NBD's zero-fee local equities trading reports more than Dhs5 billion in customer trades
Emirates NBD is marking a year since the launch of its groundbreaking zero-transaction-fee initiative for trading local equities via its award-winning digital wealth platform, accessible through ENBD X. Launched on 26 August 2024, the offering has significantly increased access to local markets, empowering investors to trade UAE-listed equities commission-free. The impact of the zero-transaction-fee initiative has been significant: • More than 300,000 commission-free trades executed on the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX) and Nasdaq Dubai • Strong investor confidence and uptake with Dhs 5 billion in total trade volume • Access to over 150 UAE-listed equities for trade via ENBD X The bank continues to enhance its mobile banking app ENBD X that integrates banking, investment and advisory services into one seamless experience. ENBD X allows customers to conveniently invest in real-time on DFM, ADX and Nasdaq Dubai, offering customisable price alerts functionality. This helps investors to stay updated and respond promptly to market movements and opportunities. Investors experience a fully digital and instantly onboarding process. In addition to boosting economic growth in the country, this initiative aligns with the UAE's 'We the UAE 2031' national strategy to enhance financial inclusion and deepen capital market development. Emirates NBD continues to reinforce the nation's position as an innovative investment hub. Through the zero-transaction-fee initiative, ENBD X is democratising wealth creation by removing barriers to entry and empowering first-time investors, young professionals and everyday savers to build long-term wealth and participate in the UAE's financial future. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said, 'We are pleased to see an outstanding response to the zero-transaction-fee trading initiative that we launched on our digital wealth platforms, accessible via ENBD X. One year on, our customers have embraced purposeful investment by investing in local equities. As a leading national bank, we are proud to transform how people invest, by providing an inclusive, accessible, transparent and affordable platform, while also supporting local businesses. This has contributed profoundly to the long-term growth of the UAE economy in line with the vision of our wise leadership.' In the previous year, Emirates NBD announced the launch of fractional bonds on the ENBD X platform, marking a pivotal moment in its journey towards increasing access to financial markets. WAM
India Gazette
30-06-2025
- Business
- India Gazette
India not affected by the new fee for DirectRemit to key countries by Emirates NBD
ANI 30 Jun 2025, 13:16 GMT+10 New Delhi [India], June 30 (ANI): Emirates NBD has clarified that its DirectRemit service will continue to offer free international transfers to major remittance destinations such as India, Pakistan, Egypt, and the Philippines, as reported by the Gulf News. Emirates NBD Bank PJSC is Dubai's government-owned bank and is one of the largest banking groups in the Middle East in terms of assets. The company has its operations in the UAE, Egypt, India, Turkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and clarification comes after confusions were caused by a prior bank notice suggesting that all international transfers, including those via DirectRemit, would be charged a Dh26.25 fee starting September 1, response to concerns and media reports, the bank said in a statement that, 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations.'The Dh26.25 fee (including VAT) applies only to countries not listed in ENBD's main zero-fee remittance list. This fee applies when transfers are made via the bank's online, mobile, or ENBD X platforms.'International wire transfers through UAE banks often carry fees ranging from Dh20 to Dh60, depending on the destination and platform used. However, Emirates NBD's DirectRemit service to selected countries has long been promoted as a zero-fee offering, and that remains unchanged for the major corridors mentioned,' the Gulf News reported. Customers are advised to review the list of eligible corridors in their ENBD app or platform to confirm whether their intended destination qualifies for zero-fee transfers. (ANI)
Time of India
27-06-2025
- Business
- Time of India
No more free remittances for NBD customers starting September: What expats need to know
Emirates NBD's DirectRemit service allows customers to send quick, digital international money transfers to supported countries, previously free of charge but now subject to a fixed Dh26.25 fee/ Image:X Emirates NBD, one of the largest banking groups in the UAE, has officially announced that it will begin charging customers a fixed fee of Dh26.25 (₹598.50) ($7.15) (inclusive of VAT) for international money transfers made through its DirectRemit service. This change will take effect from Monday, September 1, 2025, and marks a significant shift in the bank's longstanding policy of offering free remittances to selected countries. The update was shared in an email sent to customers, in which the bank stated: 'Effective Monday, September 1, 2025, charge of Dh26.25 will be applicable for International Transfers (Including DirectRemit) remittance service initiated from ENBD X or Online Banking. The fee is inclusive of VAT.' What's Changing? Previously, Emirates NBD customers enjoyed instant and fee-free money transfers to banks in countries considered part of the bank's "popular remittance corridor." These included India, the Philippines, Egypt, Sri Lanka, and the United Kingdom, with a minimum transfer amount of Dh100. Starting in September, the Dh26.25 charge will apply uniformly across all international transfers initiated via: The ENBD X mobile app The bank's online banking platform This effectively ends the free transfer benefit previously associated with DirectRemit, the bank's digital remittance tool that allowed cross-border transactions to be completed in less than 60 seconds. Additionally, the bank has introduced a cancellation fee of up to Dh26.25 for recall or cancellation of any local or international transfers, bringing another layer of change to its remittance services. This applies whether the transaction is completed or pending. How Does It Compare to Other UAE Banks? International wire transfer fees across UAE banks generally range from Dh20 to Dh60, depending on the channel and destination. With this fee update, Emirates NBD is aligning DirectRemit with the industry standard applied to most other international transfers offered by UAE-based banks. No other changes have been announced to the exchange rate margins or processing times associated with DirectRemit. The core functionality of the service, quick, digital cross-border money transfers—remains unchanged aside from the new fee. Advice to Customers Customers are encouraged to: Review their recent transfer history to assess how the new fee structure will impact their remittance habits Compare rates and fees with other available remittance services in the market Stay informed through official bank channels for any future changes or updates This adjustment signals Emirates NBD's broader move to standardize its digital banking offerings, bringing them in line with conventional cross-border transfer practices within the UAE banking sector.
Zawya
22-04-2025
- Business
- Zawya
Emirates NBD's profit before tax rises 56% to AED 7.8 billion
Assets surpass AED 1 trillion milestone Emirates NBD's Profit before tax rose 56% to AED 7.8 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 AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. Deposits grew by 5%, driven by a record AED 27 billion increase in low-cost Current and Savings Account balances. Loans grew AED 18 billion in the first quarter of 2025, with over half of the increase sourced from the growing International network. Emirates Islamic's quarterly profitability crossed the AED 1 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 USD 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. 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 AED 1 trillion milestone Total income up 5% to AED 11.9 billion on strong loan growth and improving low-cost funding mix 3.5% loan growth in Q1-25, as lending grew AED 18 billion with over half of the increase from International network Deposits grew AED 31 billion in Q1-25, including a record AED 27 billion increase in Current and Savings Accounts , reinforcing deposit mix as a key strength of the Group Impairment credit of AED 0.5 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 exceeds AED 1 billion for the first time ever 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 Free local equity trading on award winning ENBD X and EI+ apps, supporting regional stock markets Emirates NBD one of region's top banks for Customer Experience with Net Promoter Score of 48 KSA network expansion driving an impressive 15% loan growth in Q1-25 Excellent AED 46 billion of new lending helped deliver 7% Retail loan growth and 6% Corporate loan growth in Q1-25 New Structured Credit, Commodity and Investment products introduced, driving a substantial increase in income from both local and international clients ALM Markets desk ranked the number one M-Bill primary dealer by the Central Bank of the UAE for 2024 Corporate CASA growth backed by best-in-class digital escrow capabilities, APIs and virtual accounts Emirates NBD Capital is the number one investment bank for UAE IPOs and MENA Loans, and maintained its Top 3 position for international sukuks 93% of new current accounts opened via mobile app (40%) or assisted Tablet (58%) Assets Under Management across the Group grew to USD 50 billion, reflecting ongoing success of the Bank's wealth management strategy Looking to the future, Emirates NBD is transforming into a data-first, digital-focused and environmentally responsible regional powerhouse ENBD X launched in KSA, upgrading digital offering in the Kingdom Launched crypto trading through Liv X in partnership with Aquanow and Zodia Custody More than 750,000 users of WhatsApp banking Strategic partnership between Emirates NBD Pay and Visa's Cybersource platform to accelerate advanced digital payment solutions for clients Emirates NBD Pay collaborated with Mastercard to enhance Digital Payment Solutions, becoming first bank globally to offer Mastercard's Brighterion AI technology Further fintech collaborations with Partior (blockchain payments) and iPID (beneficiary validation) Big-data analytics performs deep data mining, expanding new merchant acquiring opportunities Over 50 active Advanced Analytics use cases, positioning Emirates NBD as a data-first bank Best ESG rating for any Bank in the region by S&P Global First bank in MENA to publish inaugural ISSB report Emirates NBD has the highest number of LEED Platinum certified branches of any bank globally Hesham Abdulla Al Qassim, Vice Chairman and Managing Director said: 'Emirates NBD's Profit before tax grew substantially by 56% to AED 7.8 billion in the first quarter of 2025, driven by strong regional expansion, increased digital adoption, an outperforming funding base and sustained loan recoveries. The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. All business units achieved an outstanding performance as they delivered higher income year-on-year. Emirates Islamic quarterly profit exceeded AED 1 billion for the first time ever, with very strong Customer Financing growth of 7% in Q1-25, highlighting its position as an Islamic banking powerhouse in the UAE. The Group commands a 35% market share of UAE Credit card spend, and we processed more than AED 50 billion Credit and Debit card spend in the first quarter of 2025. The Group delivered a very impressive 3.5% loan growth in Q1-25 as lending grew AED 18 billion, with over half of the increase being sourced from the growing International network.' 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. We actively use big-data analytics for deep data mining, expanding new merchant acquiring opportunities and have over 50 active Advanced Analytics use cases, positioning Emirates NBD as a data-first bank.' Patrick Sullivan, Group Chief Financial Officer said: 'Profit increased by 56% over the preceding quarter to AED 6.2 billion in Q1-25 on higher income, lower costs and an impairment credit. The Group's low-cost Current and Savings Account deposit base grew by a record AED 27 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 AED 0.5 billion. Retained earnings helped support strong loan growth and the rock-solid balance sheet makes Emirates NBD a regional powerhouse, providing the platform for future growth. The investment in people, network, technology and products is clearly delivering new sources of income.' Outlook The non-oil economy in the UAE started 2025 on a strong footing with signs of robust activity in Q1-25. A healthy domestic economy backed by significant private and public sector investment, along with a growing population, will support growth this year. In the Kingdom of Saudi Arabia, activity has also been strong as the Government carries out an extensive investment programme. Oil production is due to increase in both the UAE and KSA this year, while revenue diversification is helping to provide some insulation to the economies from volatility in oil prices. In Egypt, inflation is continuing to come under control which should allow the private sector to expand while Türkiye's monetary policy is helping to curb inflation.
