Emirates NBD, in line with the resilient operating environment in the UAE, reported a profit before tax of AED8.2 billion ($2.23 billion) for the first quarter of 2026, up 6% yoy, driven by strong balance sheet growth, resilient margins and record non-funded income growth. 

The bank’s continued strategic investment in the group’s regional footprint, Digital and GenAI are supporting income growth and offsetting the impact of lower interest rates. The balance sheet continued its strong growth momentum surpassing AED1.2 trillion. 

Lending increased by AED45 billion, up 7% to AED703 billion in the first quarter of 2026, driven by robust growth across most sectors. Deposits remain a core strength of Emirates NBD, growing by AED44 billion ytd, up 6% to 

AED830 billion. The group continues to operate with market leading capital ratios with common equity tier-1 (CET 1) at 14.2 % and robust liquidity position with liquidity coverage ratio (LCR) at 141% in the first quarter of 2026. Emirates Islamic continued strong growth momentum delivering a profit before tax of AED1 billion during the first quarter of 2026. Our strong financial position across all business segments enables us to continue providing support to our customers and clients. 

Key Highlights – Q1 2026

•     Profit before tax up to AED8.2 billion, up 6% yoy and 28% qoq, driven by strong balance sheet growth, resilient margins and record non-funded income growth

• Total income up 21% yoy and 13% qoq to AED14.4 billion driven by strong asset growth and record non-funded income growth 

• Operating profit before impairment up 24% yoy and 16% qoq to AED10.2 billion reflecting strong income growth and disciplined cost management 

• Profit before tax jumped 6% yoy and 28% qoq to AED8.2 billion, despite higher hyperinflation charge

• Balance sheet continues strong growth momentum surpassing AED 1.2 trillion

• Loan growth up 7% in Q1-26 driven by robust growth across sectors

• Deposits grew 6% in Q1-26 supported by continued increase in customer base across segments

• Impairment allowance of AED 0.8 billion, primarily driven by prudent provisioning across DenizBank and Emirates NBD, partially offset by impressive recoveries in the beginning of the year

• Impaired loan ratio improved to 2.3%, as the portfolio quality remains robust 

• Emirates Islamic delivered a profit before tax of AED1 billion in Q1-2026

- TradeArabia News Service