Emirates NBD, Dubai’s largest bank by assets, reported a 3% increase in net profit for the first quarter of 2026, reaching Dh 6.4B ($1.7B) up from Dh 6.2B in the same period last year.
This growth was bolstered by higher lending and deposit activity, as total income surged by 21% year-on-year to Dh 14.4B, according to a statement issued to the Dubai Financial Market on Thursday.
Non-funded income experienced a substantial rise of 44%, while net interest income increased by 12%.
The group’s CEO indicated that strategic investments in regional expansion, digital capabilities, and generative AI were pivotal in driving the strong income growth, countering the effects of declining interest rates.
Lending rose by 7% YoY to Dh 703B, reflecting robust performance across various sectors. Meanwhile, deposits, a primary strength of the bank, saw a 6% annual increase to Dh 830B.
Total assets increased by 18% YoY, reaching Dh 1.2T.
In a significant move, Emirates NBD agreed in October to acquire a 60% stake in the Indian private lender RBL Bank for $3B through a preferential issuance.
The Investment Corporation of Dubai holds a 41% ownership interest in Emirates NBD.
Stay Up to Date with the Latest Updates at Finance ME
“We Can’t Stand Still”: Alserkal SMEs Break Even
Saudi Arabia Added to J.P. Morgan EM Bond Index Watchlist
EDGE’s Rodrigo Torres on Risk, Sovereignty and Defence Finance in a Multipolar World
