Dubai – Mubasher: The net income of Emirates NBD increased by 12% to AED 23.90 billion during the first half (H1) of 2025, backed by strong loan growth, regional expansion and innovative product offering.

Lending soared by AED 41 billion (8%) in January-June 2025, fuelled by very strong demand both in the UAE and across its growing international network, according to a press release.

Moreover, deposits grew by AED 70 billion (10%) in H1-25, propelled by a record AED 48 billion increase in low-cost current and savings account balances.

Operating profit grew 9% as the strong loan and deposit growth momentum easily absorbed earlier interest rate cuts.

Vice Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, said: “We now expect double digit loan growth for the full year as consumer momentum and business confidence continue.”

Al Qassim noted: “The Group commands a 35% market share of UAE credit card spend as we processed more than AED 100 billion credit and debit card spend in the first half of 2025.”

He added: “We successfully launched the SHARE credit card, cobranded with the Majid Al Futtaim Group, which became the group’s fastest ever card to reach 10,000 in issue.”

From his part, the CEO Shayne Nelson stated: “The group’s ability to substantially grow income is a direct benefit of the strategic investment in our regional footprint, Digital and GenAI, helping to offset the impact of lower interest rates. Innovative products have successfully harnessed key growth areas, including Private Banking, Wealth Management, Escrow, regional corporate growth and investment banking.”

Nelson added: “We have worked hard to nurture the UAE’s leading deposit franchise in low-cost Current Accounts and Savings Accounts, which accounted for AED 48 billion of the AED 70 billion growth in deposits in H1-25.”

It is worth noting that in Q1-25, Emirates NBD generated net profits after tax worth AED 6.21 billion.