A prosperous year

Emirates NBD delivered a profit last year, despite the tough economic situation

Emirates NBD, a leading banking group in the region, delivered a net profit of Dh7 billion in 2020 despite a challenging operating environment. Total income increased 4 per cent as the positive contribution from DenizBank helped offset a decline in net interest margin due to lower interest rates and a reduction in non-funded income. Emirates NBD provided support to over 103,000 customers in the UAE and provided assistance to many customers in the other geographies in which the bank operates. Emirates NBD further enhanced its digital products and services as an increasing number of customers embraced this secure and convenient way of banking. The group's balance sheet remains healthy with strong capital, liquidity and impaired loan coverage ratios. These results have enabled the Board of Directors to recommend a 2020 dividend of 40 fils per share.