Sustaining growth momentum

EMIRATES NBD, Dubai’s largest bank, has been maintaining its growth momentum and one of the biggest contributors towards the emirate’s economic growth.

Listed on the Dubai Financial Market, Emirates NBD delivered a strong set of results with net profit growing 15 per cent to Dh6.17 billion for the first nine months of 2017. Its assets grew six per cent to Dh461.1 billion at the end of the third quarter of 2017, an increase of three per cent compared to the end of 2016.

The Dubai-based lender was the largest bank of the UAE until the National Bank of Abu Dhabi and First Gulf Bank announced merger.

“Emirates NBD is proud to celebrate the 46th UAE National Day. As a homegrown bank, we have always aligned our business model and corporate values to those of the UAE government, and under the progressive leadership and wise guidance of our founding fathers and rulers, have grown side-by-side with the UAE, to become a global leader and innovator in financial services,” said Hesham Abdulla Al Qassim, vicechairman and managing director at Emirates NBD.

It currently operates the largest network of branches at 161 across the UAE. One of the first banks in the country to embrace advanced technology in its day-to-day operations, the bank opened its first paperless digital branch at the Dubai World Trade Centre in November. It also recently brought to their over a million customers Apple Pay.