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Visit our dedicated support center for answers to all your banking-related questions.
Our various FX products and services help you conduct your international transactions easily.
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Discover more about banking with usWe have over 200 branches and 900 ATMs and CDMs across the UAE and overseas.
Learn more about our services and get the most out of your banking relationship with us.
Visit our dedicated support center for answers to all your banking-related questions.
Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Life is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Everyday banking is a lot easier with our digital banking platforms and services.
Learn more about our services and get the most out of your banking relationship with us.
We welcome you to a bespoke banking experience tailored to suit your private banking & wealth management needs, should you, your family, or your business have USD 5 Million (or currency equivalent) and above as Assets Under Management with us.
Start your banking journey with the leading bank in the region.
Find a suitable account and applyDiscover the benefits of being our customer by browsing through our banking packages.
Learn more about banking packagesLearn all about how to use your account's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
All our cards offer you an exciting range of rewards and benefits.
Find a suitable card and applyGet the most out of your credit card by exploring its different benefits.
Learn all about how to use your card's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
Here's how to make the most out of your loan with us.
Visit our dedicated support center for answers to all your banking-related questions.
Our various FX products and services help you conduct your international transactions easily.
Our wide range of transfer options make it easier for you to send money locally and internationally.
Learn all about how you can seamless use our services to transfer money.
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Know more about our Wealth servicesLife is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Access to over 11,000 stocks and ETFs in Global and UAE markets
Visit our dedicated support center for answers to all your banking-related questions.
Everyday banking is a lot easier with our digital banking platforms and services.
Discover more about banking with usWe have over 200 branches and 900 ATMs and CDMs across the UAE and overseas.
Learn more about our services and get the most out of your banking relationship with us.
Visit our dedicated support center for answers to all your banking-related questions.
Start your Priority Banking journey and live your success
Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Life is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Everyday banking is a lot easier with our digital banking platforms and services.
Learn more about our services and get the most out of your banking relationship with us.
We welcome you to a bespoke banking experience tailored to suit your private banking & wealth management needs, should you, your family, or your business have USD 5 Million (or currency equivalent) and above as Assets Under Management with us.
Emirates NBD’s profit surges 65% to AED 21.5 billion in 2023 on asset growth, a stable low-cost funding base, increased transaction volumes and substantial impaired loan recoveries. Q4-23 profit of AED 4 billion was up 3% y-o-y on higher income reflecting a buoyant regional economy. In light of the Group’s excellent performance, the Board of Directors is proposing a 100 fils dividend plus 20 fils celebrating its 60th anniversary, doubling last year’s dividend.
Emirates NBD’s asset base jumped 16% in 2023 as the Group’s market-leading deposit franchise grew AED 82 billion, with low-cost Current and Savings Accounts adding an impressive AED 30 billion. Lending grew 5% on strong Retail loan growth, coupled with AED 70 billion new Corporate lending. The rock-solid balance sheet makes Emirates NBD a regional powerhouse. Credit quality improved significantly with impairment charge down 33% and the impaired loan ratio improving to 4.6%, the lowest level since 2009. All business units delivered an outstanding performance. Our network in the Kingdom of Saudi Arabia expanded to 15 branches and we refreshed our branch presence in Egypt, enhancing our international footprint and digital capabilities to drive further growth. Emirates NBD were proud to be the Principal Banking Partner for COP28.
Key Highlights – 2023
His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Emirates NBD said:
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director said:
Shayne Nelson, Group Chief Executive Officer said:
Financial Review
Rounding differences may appear throughout the document
Business Performance
Outlook
GCC economies have been resilient against a weaker global backdrop and higher interest rates. PMI surveys in the UAE and the Kingdom of Saudi Arabia indicate robust activity in non-oil sectors in the final quarter of 2023, with strong new order growth pointing to continued momentum into 2024. Emirates NBD Research expects 4.5% non-oil growth in the UAE and 4% non-oil growth in the Kingdom of Saudi Arabia, underpinned by continued investment and consumption. In the wider MENAT region, Egypt continues to explore asset sales, reflecting their commitment to revamp the economy and Türkiye increased interest rates to help address inflation.
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