Dubai – Mubasher: Emirates NBD registered a 34% increase in lending facilities towards small and medium enterprises (SMEs) in the UAE, according to a press release.

In line with its objectives to boost the SME industry and the national economy, Emirates NBD Business Banking contributed significantly towards funding the sector and back its working capital needs.

The DFM-listed lender created over 7,000 new business accounts for large and small businesses with a wide range of features and benefits for business owners and their entities.

Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, commented: “Fostering growth in the SME sector is a key strategic objective for Emirates NBD.”

Hadi continued: “The SME sector is what drives this nation’s economy, and we will continue to create and offer more innovative tools that enable businesses and entrepreneurs of all sizes to successfully run their operations.”

It is worth highlighting that Emirates NBD Business Banking offers its services across key trade corridors in the UAE, Saudi Arabia, and Egypt.

Earlier this month, the UAE lender unveiled investment in Switzerland-based technology services firm Komgo.

In the first half (H1) of 2023, Emirates NBD witnessed 130% higher net profits after tax at AED 12.30 billion, compared to AED 5.30 million a year earlier.