Dubai, UAE – Emirates NBD, a leading bank in the region, announced that its profits rose 40 percent to AED 13 billion ($3.53 billion) in 2022, driven by strong regional economic growth and the success of its diversified business model, the bank said.
The bank’s Q4 profit was particularly strong, at AED 3.9 billion, up 94 percent year-on-year. The bank also proposed a 20 percent increase in the cash dividend to 60 fils per share.
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said, “Emirates NBD delivered record income and operating profit in 2022 as total income grew 36 percent to AED 32.5 billion on increased transaction volumes and improved margins from an efficient funding base and higher interest rates.”
Sheikh Ahmed bin Saeed Al Maktoum, Chairman, Emirates NBD, said, that Emirates NBD played a lead role in delivering over AED 31 billion of IPOs in 2022, which contributed to the growth of the Dubai economy and the development of the equity capital markets.
