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Sheikh Mohammed: Emirates NBD continues to play a major role in the sustained growth of UAE’s banking sector

During a visit to Emirates NBD headquarters on the occasion of the bank’s 60th anniversary celebrations

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today visited the headquarters of Emirates NBD on the occasion of the bank’s 60th anniversary celebrations.

HH Sheikh Mohammed was accompanied on his visit by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE; His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; and His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD.

Read more: CBUAE: UAE ranks as fourth largest Islamic finance market globally

Emirates NBD’s role in UAE’s growth and transformation

His Highness said: “Emirates NBD has been a significant player in the UAE’s growth into one of the world’s leading centres for commerce and trade. The bank’s achievements over the last 60 years mirror the UAE’s own journey of transformation that saw the nation not only matching the progress of developed countries but also emerging as a frontrunner on the global stage. The bank’s contributions have been instrumental in building Dubai into a major global node for trade and capital flows as well as accelerating economic development in the UAE, the region and beyond. Emirates NBD continues to play a major role in the sustained growth of the UAE’s banking sector, which remains an important pillar of our national economy and diversification strategy and a key enabler of our strategic aspirations.”

“As we look forward to the boundless opportunities that lie ahead, I am confident that Emirates NBD will script new success stories that will contribute to shaping a brighter future for the UAE. I congratulate the Emirates NBD Board of Directors led by HH Sheikh Ahmed bin Saeed Al Maktoum for their commitment to setting new benchmarks in the banking industry and driving innovation and excellence,” Sheikh Mohammed added.

Sheikh Mohammed visits Emirate NBD Pearl Museum

During the visit, HH Sheikh Mohammed also visited the Emirate NBD Pearl Museum, which showcases the UAE’s maritime heritage and its pearl-diving history. The museum was inaugurated in 2003, on the occasion of the bank’s 40th anniversary.

A leading banking group in the Middle East, North Africa and Türkiye region, Emirates NBD’s 60th anniversary celebrations mark the bank’s exceptional evolution from a homegrown local bank to a leading international bank, employing over 30,000 people across its markets and serving over 20 million customers worldwide. Emirates NBD was created following the merger between the National Bank of Dubai and Emirates Bank International which was completed in 2007.

Strong financial performance in 2023

In 2023, Emirates NBD’s profit surged 65 percent to AED21.5 billion ($5.85 billion) while total income rose by 32 percent to AED43 billion ($11.7 billion). The bank’s asset base jumped 16 percent in 2023 to AED863 billion ($234.96 billion) at the end of 2023.

Furthermore, the Group currently has operations in the UAE, Egypt, India, Turkey, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany and Bahrain and representative offices in China and Indonesia.

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