Emirates NBD reported record income of AED 42.2B for the first nine months of FY26, up 15% year-on-year, as total assets grew 18% year-to-date to AED 1.38T.
Profit before tax rose 4% to AED 24.3B despite higher impairment and hyperinflation charges, while net profit increased 2% to AED 19B. Operating profit before impairment climbed 14% to AED 29B.
Gross loans grew 27% year-to-date to AED 833B, including the contribution of RBL Bank, acquired in June. Deposits rose 19% to AED 935B. The group recorded AED 174B in new lending, with retail loans increasing 17% and corporate loans rising 22%.
Asset quality remained resilient, with the impaired loan ratio improving to 2%, from 2.4% at the end of FY25. The cost of risk stood at 37 basis points.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, said: “Emirates NBD delivered record income of AED 42.2B for the first nine months of 2026, up 15% year-on-year, reflecting the underlying strength of the Group’s diversified business model and the resilience of the UAE economy.”
Regional expansion and digital investment
The bank is expanding through its RBL Bank acquisition and an agreement to acquire HSBC Egypt’s retail banking business.
Group CEO Shayne Nelson said the HSBC Egypt deal would strengthen the bank’s presence in the country and deepen its customer franchise.
The group is also investing in wealth management, digital banking and generative AI. Assets under management in the UAE grew 15% since February FY26, while its ENBD X app expanded to 237 services from 150 at launch in FY23.
Emirates NBD Capital executed more than 70 debt capital markets transactions year-to-date, raising over $60B across 13 countries.
The bank also achieved its $30B sustainable finance and facilitation target for FY30 almost four years ahead of schedule. Other initiatives included blockchain-based cross-border US dollar payments on the Partior network and an AI travel assistant d
Economic outlook
Emirates NBD said UAE growth remained supported by domestic demand, population growth and credit expansion despite headwinds. Oil production is expected to rise modestly in FY26 before accelerating in FY27.
In Saudi Arabia, fiscal spending continues to support non-oil activity, with higher oil prices partly offsetting production disruptions. In Egypt, moderating inflation and a stable exchange rate could allow further monetary easing. Türkiye’s disinflation continues, while India maintains robust economic growth despite higher food and energy prices.
Group CFO Patrick Sullivan said quarterly profit before tax reached AED 8B as “capital and liquidity [remained] one of our key strengths, providing a solid foundation to support future growth.”
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