Dubai – Mubasher: Emirates NBD achieved net profits after tax worth AED 12.30 billion in the first half (H1) of 2023, an annual leap of 130% from AED 5.30 million.

The total income reached AED 21.30 billion in H1-23, marking a 50% year-on-year (YoY) surge from AED 14.20 billion, according to the financial results.

As of 30 June 2023, the total assets hit AED 811 billion, while the customers’ deposits stood at AED 556 billion.

Income Statements for Q2-23

During the second quarter (Q2) of 2023, the DFM-listed lender logged net profits amounting to AED 6.20 billion, up 4% from AED 6 billion in Q1-23.

On a quarterly basis, the Q2-23 income grew by 3% to AED 10.80 billion from AED 10.50 billion in Q1-23.

Shayne Nelson, Group CEO of Emirates NBD, highlighted: “Our market-leading deposit franchise added AED 53 billion of deposits including AED 37 billion of low-cost Current and Savings Accounts."

“Record Retail lending and success in closing key Corporate lending deals across the region drove loan growth 5% higher, underlining the strength of our regional presence,” Nelson added.

Patrick Sullivan, Group Chief Financial Officer (CFO) of Emirates NBD, said: “The group is forward-looking as it invests higher income to drive future efficiencies and new revenue streams.”

“Strong lending growth of 5% in the first half of 2023 enables the Group to revise loan growth guidance positively upwards,” Sullivan indicated.