DUBAI: Emirates NBD, Dubai’s largest bank by assets, on Monday reported a 4% rise in full-year net profit, citing record lending growth driven by “accelerating domestic and international demand.”
Emirates NBD said in a statement that its net profit came in at 24 billion dirhams ($6.53 billion) last year, beating analysts’ expectations of 22.8 billion dirhams, according to mean estimates compiled by LSEG. The bank, majority-owned by Dubai’s government, proposed an ordinary dividend of 100 fils per share.
UAE banks have benefited recently from rising credit demand as regional governments invest in sectors such as tourism and infrastructure to diversify their economies beyond oil revenues.
“Strong credit growth, lower provisioning requirements, and high interest margins supported banks’ strong profitability in 2025, while liquidity improved as a result of deposit growth outpacing new lending,” S&P Global Ratings said in a note on Emirati banks on Monday.
Emirates NBD said total gross loans climbed 24% to 658 billion dirhams as of the end of December, driven by markets including Saudi Arabia, where the bank plans to further expand its network, which is expected to reach 24 branches by the first quarter of 2026.
“We will accelerate development across our international network, with an emphasis on advancing our strategic investment in India and deepening our presence in high-potential regional markets,” Emirates NBD Chairman Sheikh Ahmed Bin Saeed Al Maktoum said in the statement.
The Dubai lender last year announced plans to invest $3 billion to acquire a 60% stake in India’s RBL Bank, the largest cross-border acquisition in India’s financial sector.
Emirates NBD’s deposits rose 18% to an overall 786 billion dirhams last year, contributing to bringing total assets to 1.16 trillion dirhams.
($1 = 3.6728 UAE dirhams) (Reporting by Federico Maccioni Editing by Tomasz Janowski and Sharon Singleton)
