Dubai – Mubasher: Emirates NBD recorded net profits after tax amounting to AED 6.21 billion in the first quarter (Q1) of 2025, an annual drop of 7% from AED 6.71 billion.
Total operating income jumped by 11% year-on-year (YoY) to AED 11.87 billion in the first three months (3M) of 2025 from AED 10.66 billion, according to the financial results.
Earnings per share (EPS) retreated to AED 0.96 in Q1-25 from AED 1.04 in Q1-24.
The total assets hiked to AED 1.03 trillion as of 31 March 2025 from AED 902 billion a year earlier, while the deposits climbed to AED 698 billion from AED 610 billion.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said: “The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy.
“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,” Al Qassim mentioned.
He noted: “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 Q1-25.”
“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,” the official stated.
As of 31 December 2024, the net profits increased by 7% YoY to AED 23 billion from AED 21.52 billion.
