Emirates NBD Bank (EMIRATESNBD) Q3 2025 earnings summary

Executive summary

• Profit before tax for the first nine months reached AED 23.4 billion, up 6% year on year, with net profit nearly flat at AED 18,955 million.

• Income rose 12% year to date, driven by record loan growth and a strong deposit mix across all segments and markets.

• Emirates Islamic delivered a record AED 3.2 billion profit before tax in 9M'25.

• Announced acquisition of a 60% stake in RBL Bank, India, for approximately $3 billion (AED 11.2 billion), pending regulatory approval.

• Completed acquisition of the remaining 0.1% in Emirates Islamic Bank, now holding 100%.

Financial highlights

• Total income reached AED 36.7 billion, up 12% year on year, with net interest income up 8% and non-funded income up 20%.

• Net loans and receivables rose to AED 603.6 billion, with gross lending up 19% year to date.

• Customer deposits increased by AED 94 billion year to date (up 14%) to AED 760 billion, with CASA deposits up AED 56 billion.

• Operating profit increased 10% year on year to AED 25.5 billion.

• Earnings per share for the period was AED 2.94, nearly unchanged from AED 2.95 in 2024.

Outlook and guidance

• Loan growth guidance for the full year raised to the low 20% range, reflecting strong momentum.

• Net interest margin (NIM) guidance for ex-DenizBank expected to exit Q4 at 2.7%-2.75%, with full-year range between 2.9%-3%; actual NIM for 9M'25 was 3.43%.

• Cost-to-income ratio expected to land around 31% for the full year; actual for 9M'25 was 30.5%.

• NPL ratio guidance maintained at <3%; cost of risk guidance at 20–40bps.

• The RBL Bank acquisition is expected to close by Q2 2026, expanding presence in India.