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Emirates NBD’s 2024 Net Profit Rises 7% To $6.3 Billion

by THEFUTURE.TEAM

January 29, 2025

Emirates NBD has reported a 7% year-on-year increase in its net profit for 2024, reaching $6.3 billion (AED 23 billion). The rise was driven by strong income growth, robust loan performance, and a strategic focus on digital banking and revenue diversification.

Key Highlights

Total Income: Emirates NBD’s total income for 2024 rose by 3% year-on-year, reaching $12 billion (AED 44.1 billion), underpinned by a 10% growth in loans and a stable, low-cost funding mix.
Loan Growth: The bank issued $43.6 billion (AED 160 billion) in new loans, leading to a 16% year-on-year increase in its assets.
Corporate Loans: The lender provided $23.9 billion (AED 88 billion) in new corporate loans, leveraging its optimized regional network. Retail lending also surged by 30%, driven by growth in its Priority and Private banking segments.
Operating Expenses: Operating expenses rose 18% year-on-year, totaling $3.8 billion (AED 13.8 billion).
Earnings Per Share (EPS): EPS grew by 7%, reaching 356 fils in 2024.

Strong Performance Across Business Units

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Emirates Islamic, the bank’s Sharia-compliant arm, achieved a record profit of $762.3 million (AED 2.8 billion). Deposit growth was also notable, with an increase of $22.3 billion (AED 82 billion) in 2024, including a $13.1 billion (AED 48 billion) rise in current and savings accounts. The bank’s international expansion, particularly in Saudi Arabia, contributed to a 57% increase in its loan book, with 21 branches and 62 ATMs.

Digital Transformation

98% of new current accounts were opened via digital channels, with 40% through the mobile app and 58% via assisted tablets.
The bank also saw a ninefold increase in digital wealth transaction volumes in 2024.

Other Noteworthy Achievements

Emirates NBD maintained a one-third market share of UAE credit card spend, with card spending up 18% in 2024.

The bank ranked number one in UAE IPOs and successfully priced over 100 sukuk and bond issues through Emirates NBD Capital.

Ranked sixth on Forbes Middle East’s lists of the 30 Most Valuable Banks 2024 and the Top 100 Listed Companies 2024, Emirates NBD continues to solidify its position as a leading financial institution in the region. Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, emphasized the bank’s strategy for growth: “Our international expansion story is one of growth, diversification, and resilience, leveraging our unique proposition to expand our footprint across the MENA region and beyond.”

With a total of $44 billion (AED 160 billion) in assets under management as of January 29, 2025, Emirates NBD is well-positioned to maintain its leadership in both the domestic and international markets.

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EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.