Emirates NBD on Tuesday announced a profit before tax of Dh8.2 billion, up six per cent year-on-year, driven by strong balance sheet growth, resilient margins and record non-funded income growth.
Dubai’s largest bank reported total income of Dh14.4 billion, an increase of 21 per cent year-on-year. Its net profit grew 27 per cent quarter-on-quarter to Dh6.4 billion.
The balance sheet continued its strong growth momentum, surpassing Dh1.2 trillion. Lending increased by Dh45 billion, up seven per cent to Dh703 billion in the first quarter of 2026, driven by robust growth across most sectors.
Deposits remained a core strength of Emirates NBD, growing by Dh44 billion or six per cent, to Dh830 billion.
Emirates Islamic continued its strong growth momentum, delivering a profit before tax of Dh1 billion during the first quarter of 2026.
“The UAE has once again demonstrated exceptional resilience and strategic foresight, with swift actions by the leadership and the Central Bank of the UAE supporting robust liquidity and safeguarding financial stability. Emirates NBD has been proactively working to support customers through targeted relief measures, including fee waivers or deferrals, helping businesses navigate the current environment,” said Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.
“We remain confident in the UAE leadership, the underlying strength of the UAE economy, and our ability to continue delivering strong performance for our shareholders and customers,” he added.
The lender said the UAE and Dubai entered this period of heightened geopolitical tensions arising from regional conflict from a position of strength, supported by solid fiscal buffers, resilient supply chains and healthy domestic demand, allowing the economy to withstand negative impacts and rebound quickly.
It said proactive policy measures by the authorities would further support the domestic economy.
Shayne Nelson, Group CEO of Emirates NBD, said the growth was propelled by strong loan growth and record non-funded income growth.
“Our strategic investments in our regional footprint, digital capabilities and GenAI continue to drive strong income growth, offsetting the impact of lower interest rates. The group’s balance sheet continues its growth momentum, with total assets exceeding Dh1.2 trillion, driven by strong lending growth of Dh45 billion in the first quarter of 2026. Our international expansion strategy remains a core pillar as we look forward to closing the RBL transaction and welcoming them to the Group,” he said, adding that the bank maintained a robust liquidity position as it closed $2.25 billion in long-term syndicated financing.
Patrick Sullivan, Group CFO of Emirates NBD, said the bank entered this period of heightened geopolitical uncertainty from a position of strength, with rock-solid capital, robust liquidity and a well-diversified business model that continues to drive growth and strong financial performance.
“Operating profit before impairment surged by 24 per cent year-on-year to Dh10.2 billion, driven by double-digit income growth and disciplined cost management,” he said, adding that the lender had taken a prudent approach to provisioning across DenizBank and Emirates NBD, taking an additional precautionary impairment charge for the UAE of Dh865 million in Q1.
