April 23, 2026
Emirates NBD, Dubai’s largest bank, delivered a strong financial performance for the first quarter of 2026, reflecting robust balance sheet expansion, resilient profitability, and continued momentum across key business segments.
Strong Profit and Income Growth
The bank reported total income of Dh14.4 billion, marking a 21% year-on-year increase. Net profit also showed strong improvement, rising 27% quarter-on-quarter to Dh6.4 billion, supported by healthy business activity and diversified revenue streams.
Profit before tax reached Dh8.2 billion, up 6% year-on-year, driven by strong lending performance, resilient margins, and record non-funded income.
Expanding Balance Sheet
Emirates NBD continued its strong growth trajectory, with its balance sheet surpassing Dh1.2 trillion in total assets.
Key highlights include:
- Lending increased by Dh45 billion (7%) to Dh703 billion
- Deposits rose by Dh44 billion (6%) to Dh830 billion
The bank maintained strong liquidity, supported by continued customer confidence and broad-based sector growth.
Emirates Islamic Performance
Emirates Islamic also delivered strong results, recording a profit before tax of Dh1 billion during Q1 2026, reflecting sustained momentum in Islamic banking operations.
Management Commentary
Group leadership highlighted the resilience of the UAE economy, supported by strong policy measures, liquidity stability, and proactive regulatory support from the Central Bank of the UAE.
They emphasized that targeted customer relief measures, including fee waivers and payment deferrals, helped businesses navigate evolving market conditions.
The bank also reaffirmed confidence in the UAE’s long-term economic strength and its ability to sustain strong shareholder returns.
Strategic Drivers of Growth
According to management, performance was driven by:
- Strong loan growth across key sectors
- Record non-funded income
- Expansion of digital and AI capabilities
- Regional footprint growth strategy
- GenAI-driven operational efficiency
Operating profit before impairment rose 24% year-on-year to Dh10.2 billion, reflecting disciplined cost control and strong revenue growth.
Strong Capital and Liquidity Position
The bank maintained a robust financial position with:
- Strong capital adequacy
- Healthy liquidity levels
- Prudent provisioning approach
A precautionary impairment charge of Dh865 million was taken for the UAE, reflecting conservative risk management practices amid global uncertainty.
