Emirates NBD delivered a strong financial performance in the first half of 2026, with net profit after tax reaching AED 12.9 billion, up 3% compared with the same period last year.

Profit before tax increased 5% year over year to AED 16.2 billion, supported by a 13% rise in net interest income and a 25% increase in non-funded income.

The Group benefited from strong customer activity, continued balance sheet growth, and the diversity of the bank’s business model, which helped maintain its growth momentum during the period.

The Group’s balance sheet exceeded AED 1.3 trillion, representing growth of 22% compared with the same period last year.

Total loans rose 17% from the beginning of the year and 35% year over year to AED 771 billion, supported by growth in the UAE and the consolidation of RBL Bank’s results into the Group’s operations.

Deposits continued to strengthen the bank’s financial position, rising 13% from the start of the year and 21% compared with the same period last year to reach AED 892 billion.

Asset quality remained strong, with the cost of risk standing at 42 basis points, while robust capital and liquidity levels continued to provide a solid foundation for future growth.

The acquisition of RBL Bank added AED 74 billion to total assets, AED 44 billion to the loan portfolio, and AED 43 billion to deposits, supporting the Group’s long-term expansion strategy and strengthening its regional presence.

Exceptional Performance

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group, said: “Emirates NBD’s exceptional performance during the first half of the year reflects the strength and resilience of the UAE economy and the growing confidence in it, supported by its continued ability to provide an environment that encourages sustainable growth and creates promising opportunities for business and investment.”

He added: “We are delighted to welcome RBL Bank to the Emirates NBD Group family. This strategic step represents a valuable addition to the Group’s growth journey and strengthens its presence in markets with promising potential, in line with its long-term vision for expansion and sustainable growth.”

He continued: “The Group’s balance sheet exceeded AED 1.3 trillion in the first half of 2026, reflecting the strength of customer activity and continued momentum across various business segments. In line with the UAE’s ambition to become the world’s leading hub for Islamic finance, Emirates Islamic and Emirates NBD’s Islamic window have built one of the region’s largest Islamic banking franchises, with combined Islamic assets exceeding AED 250 billion. As the UAE continues to strengthen its position as a global financial and investment hub, Emirates NBD remains committed to supporting the country’s ambitious economic vision.”

Strong Performance

Shayne Nelson, Group Chief Executive Officer, said: “Emirates NBD delivered a strong performance in the first half, recording a record profit before tax of AED 16.2 billion, driven by robust customer activity and strong growth in lending and deposits across our key markets.”

He added: “The completion of the acquisition of RBL Bank represents an important strategic step in the Group’s international expansion journey, strengthening Emirates NBD’s business diversification and broadening its presence in markets with promising potential. We also continued to maintain strong liquidity and capital levels and successfully launched our activity in the GCC debt capital markets through a landmark issuance of Additional Tier 1 capital securities worth US$750 million, underscoring global investor confidence in Emirates NBD Group.”

He said: “Emirates NBD remains well positioned to capture opportunities arising from global wealth flows, supported by strong customer activity, while maintaining assets under management of US$105 billion and double-digit growth in the UAE since April 2026. We are also proud to have ranked first in the inaugural Evident AI Index for banks in the Middle East and Africa, reflecting our leadership in adopting and deploying artificial intelligence technologies across the organization.”

Strong Growth

Patrick Sullivan, Group Chief Financial Officer, said: “Emirates NBD’s income increased 16% to AED 27.9 billion in the first half of 2026, driven by strong loan growth, continued regional expansion, and broad-based momentum across the Group. Operating profit before impairment allowances rose by a notable 17% compared with the same period last year to AED 19.5 billion, reflecting our continued focus on increasing operating income while maintaining cost discipline. Loans recorded exceptional growth of 17% to reach AED 771 billion, an increase of AED 114 billion, driven by healthy growth momentum in the UAE and the consolidation of RBL Bank’s results.”

He continued: “The acquisition of RBL Bank added AED 74 billion in assets, AED 44 billion in loans, and AED 43 billion in deposits, representing an important milestone in Emirates NBD’s international expansion strategy.”

He added: “Asset quality continued to demonstrate a high level of strength, with the cost of risk remaining stable at 42 basis points, while strong capital and liquidity levels provided a solid foundation that supports our ability to capture growth opportunities and deliver sustainable value over the long term.”