Emirates NBD H1 pre-tax profit rises 5% to record Dh16.2 billion

Dubai: Emirates NBD expanded its loan book by Dh114 billion during the first half of 2026, taking gross lending to Dh771 billion after strong growth across its core markets and the consolidation of RBL Bank.

The Dubai-based lender reported a record pre-tax profit of Dh16.2 billion for the six-month period, up 5% from a year earlier, while profit after tax rose 3% to Dh12.9 billion.

Customer deposits increased 13% to Dh892 billion, supported by growth across the bank’s retail, corporate and international businesses. The group’s balance sheet surpassed Dh1.3 trillion following continued organic expansion and the addition of RBL Bank.

Income reaches Dh27.9 billion

Total income increased 16% year on year to Dh27.9 billion, supported by a 13% rise in net interest income and 25% growth in non-funded income.

Operating profit before impairment climbed 17% to Dh19.5 billion, reflecting higher income and continued cost management across the group.

Expenses rose 15% to Dh8.3 billion, while the cost-to-income ratio stood at 29.9%. The bank reported a net interest margin of 3.25% during the period.

Profit growth was recorded despite higher impairment allowances and hyperinflation-related charges. Impairment allowances reached Dh1.4 billion, mainly due to provisioning across Emirates NBD and DenizBank, partly offset by recoveries.

RBL Bank adds Dh74 billion in assets

Emirates NBD completed its acquisition of RBL Bank during the first half, adding Dh74 billion in assets, Dh44 billion in gross loans and Dh43 billion in deposits to the group.

The acquisition expanded the bank’s international operations and contributed to the increase in its lending and deposit base.

Nelson said, “Successful completion of RBL Bank acquisition marks a significant step in our international strategy, further strengthening Emirates NBD’s scale and diversification.”

Patrick Sullivan, Group Chief Financial Officer, said lending growth was supported by continued activity in the UAE and the consolidation of RBL Bank.

Retail and corporate lending increase

Emirates NBD provided Dh98 billion in new lending during the first six months of the year, helping deliver a 6% increase in retail loans and 14% growth in corporate lending.

The group retained its position as the leading credit card issuer across the Middle East and Africa, with a 36% share of credit card spending in the UAE.

Emirates NBD reported a customer Net Promoter Score of 58, placing it among the region’s leading banks for customer experience.

Wealth assets reach $105 billion

Assets under management and administration across the group stood at $105 billion, supported by its wealth management operations and double-digit growth in the UAE since April.

Emirates NBD Capital completed more than 55 debt capital market transactions across 12 countries, raising more than $47 billion during the period.

The group also introduced structured credit, commodity and investment products, which contributed to higher income from local and international clients.

Asset quality remains stable

The impaired loan ratio improved to 2.1%, while the group reported a cost of risk of 42 basis points.

Its common equity tier-one ratio stood at 13.6%, providing the bank with capital capacity to support continued lending and business growth.

The group also returned to the GCC additional tier-one capital market with a $750 million issuance.