The general assembly meeting of Emirates NBD approved doubling of dividend to 120 fils per share to commemorate the group’s 60th anniversary.
A total of AED7.58 billion will be distributed as dividend to shareholders on the bank’s register at the close of trading on 4 March.
“As we celebrate the 60th anniversary of Emirates NBD, we take enormous pride in everything that has been achieved. Turning all challenges of this year and decades past into opportunities for growth, Emirates NBD has continued to serve as a financial bedrock. It is a trusted partner and beacon of innovation for Dubai, the UAE and beyond. Through effective execution of its strategy, Emirates NBD will continue to fulfil its purpose to create opportunities to prosper for all its stakeholders,” Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said.
“Emirates NBD has led by example in promoting sustainable practices across its operations and communities. It was the Principal Banking Partner for COP28. The Group also introduced carbon trading this year, making it the first UAE bank to empower customers in offsetting carbon emissions, in alignment with the UAE’s Net Zero action plan,” he added.
Key financial highlights for 2023:
- Net profit of AED21.5 billion, up by 65 percent y-o-y
- Total income up 32 percent to AED43 billion
- Healthy asset growth of 16 percent to AED863 billion at end-2023
- Solid loan growth, up 5% on record retail financing momentum with AED70 billion of new corporate lending
- Net interest margin rose 52 basis points in 2023 to 3.95 percent
- Impairment allowances substantially down 33 percent y-o-y due to exceptionally strong recoveries
- Earnings per share up significantly by 68 percent to 332 fils
Earlier in the day, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the bank’s headquarters.
“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,” he said.
“Emirates NBD continues to play a major role in the sustained growth of the UAE’s banking sector. The sector remains an important pillar of our national economy and diversification strategy. It is a key enabler of our strategic aspirations,” Sheikh Mohammed added.
Emirates NBD employs over 30,000 people across its markets. It serves over 20 million customers worldwide. It was created following the merger between the National Bank of Dubai and Emirates Bank International in 2007.
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