Emirates NBD's profit before tax rises to AED7.8 billion in Q1

Dubai [UAE], April 22 (ANI/WAM): Emirates NBD's Profit before tax rose 56 per cent to AED7.8 billion in the first quarter of 2025 as strong lending momentum, an improvement in deposit mix and new products drove an 11 per cent year-on-year increase in income.

The bank said that the balance sheet surpassed the AED1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy.

Profit increased by 56 per cent over the preceding quarter to AED6.2 billion in Q1-25 on higher income, lower costs and an impairment credit.

Deposits grew by five per cent, driven by a record AED27 billion increase in low-cost Current and Savings Account balances.

Loans grew AED18 billion in the first quarter of 2025, with over half of the increase sourced from the growing International network. (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)