Emirates NBD reported total income of Dh23.9 billion for the first half of 2025, a 12% increase year-on-year, driven by strong lending activity and a record rise in deposits.
The group added Dh41 billion in loans, marking 8% growth, with nearly half of the volume attributed to its international operations. Deposits rose Dh70 billion, including a record Dh48 billion increase in current and savings accounts. The group’s impaired loan ratio improved to 2.8%, while it booked a net impairment credit of Dh0.3 billion.
Operating profit rose 9% to Dh16.7 billion, though net profit declined 9% to Dh12.5 billion, affected by a higher corporate tax rate and a Dh2 billion drop in recoveries compared to the same period last year.
Emirates Islamic, the group’s Shariah-compliant subsidiary, delivered a record profit of Dh1.9 billion in the first half, as customer financing grew 13%.
The lender maintained a 35% market share in UAE credit card spend, processing over Dh100 billion in card transactions. It issued 10,000 ‘SHARE’ credit cards in partnership with Majid Al Futtaim, the fastest rollout in the bank’s history.
Loan growth
Retail and corporate loan growth reached 13%, aided by Dh92 billion in new lending. In Saudi Arabia, loan growth reached 27% in the first half, supported by branch expansion.
Net interest income rose 10% to Dh16.8 billion, while non-funded income climbed 18% to Dh7.1 billion. The cost-to-income ratio stood at 30.4%, and the net interest margin narrowed to 3.47%, down from 3.59% a year earlier.
The bank’s balance sheet reached Dh1.08 trillion, up 17% from a year ago. Gross loans grew to Dh570 billion, while deposits hit Dh737 billion. The Common Equity Tier 1 ratio stood at 14.7%.
Group CEO Shayne Nelson said income growth was supported by investments in digital, generative AI, and regional expansion. Over 93% of new current accounts were opened digitally.
The group’s wealth management business expanded to $50 billion in assets under management. Emirates NBD Capital maintained a top-three position in global sukuk issuance and led UAE IPO and MENA loan league tables.
New services launched include crypto trading through Liv X in partnership with Aquanow and Zodia Custody. The group also expanded its use of advanced analytics with over 50 active use cases and partnered with Visa’s Cybersource for digital payments.
Emirates NBD expects continued double-digit loan growth for the full year, supported by regional economic activity, particularly in the UAE and Saudi Arabia. The bank plans further investment in technology, products, and its international footprint.
