Emirates NBD Bank (EMIRATESNBD) Q1 2025 earnings summary

Executive summary

• Profit before tax rose 56% sequentially to AED 7.8 billion, with net profit at AED 6.2 billion, driven by strong loan demand, improved deposit mix, and new product launches.

• Total income increased 11% year-on-year to AED 11.9 billion, with net interest income up 14% to AED 8.5 billion and non-funded income up 5%.

• Balance sheet assets surpassed AED 1 trillion, reaching AED 1,030.6 billion as of 31 March 2025.

• The Group remains well-capitalized, with total equity at AED 126.8 billion and CET1 ratio at 14.7%.

• Emirates Islamic achieved a record quarterly profit above AED 1 billion.

Financial highlights

• Profit before tax: AED 7.8 billion, up 56% quarter-on-quarter; net profit after tax: AED 6.2 billion.

• Total income: AED 11.9 billion, up 5% sequentially and 11% year-on-year.

• Net interest income rose 14% year-on-year to AED 8.5 billion; non-funded income up 27% quarter-on-quarter.

• Loans grew AED 18 billion in Q1 to AED 520.9 billion; deposits increased by AED 31 billion to AED 697.6 billion, with AED 27 billion from low-cost CASA.

• NPL ratio improved to 3.1%, with coverage at 158% and Stage 3 coverage at 89%.

Outlook and guidance

• Full-year guidance remains unchanged, with high single-digit loan growth targeted and NIM expected at 3.3%-3.5%.

• Cost-income ratio expected to finish the year between 31%-33%.

• Cost of risk guidance maintained at 40-60 basis points for the group, with DenizBank expected at the higher end.

• Management notes Q1 results are not necessarily indicative of full-year 2025 performance.