Emirates NBD to Pay Cash Dividend of $171.9 Million
The annual general assembly meeting of Emirates NBD, the largest bank in Dubai, has approved the Board’s proposal to distribute cash dividends of $0.27 per share for the year ended 31 December 2024, amounting to being $171.9 million, to registered shareholders at the close of the trading on 6 March 2025.
The bank’s total income in FY24 was up to $12.01 billion due to strong loan growth coupled with an excellent stable, low-cost funding mix of 10% loan growth in 2024, with $23.96 billion of new corporate lending on optimisation of regional network and a 30% increase in retail lending as priority and private banking franchise grows rapidly.
Deposit mix was a key strength, growing $22.33 billion in 2024, including a $13.07 billion increase in current & savings accounts, the meeting was informed.
Emirates Islamic, the Islamic Banking arm of Emirates NBD Group, reported a record profit of $760 million driven by exceptional growth of 31% in customer financing in 2024, Emirates NBD said.
Emirates NBD Chairman H H Sheikh Ahmed Bin Saeed Al Maktoum, said that the story of Dubai and the UAE in 2024 has been one of relentless ambition and boundless opportunity.
He said that Dubai and the UAE had another exceptional year, cementing their position among the leading global hubs for innovation, talent, and investment. Dubai’s GDP grew by 3.2% in 2024 to reach $120.61 billion, driven by the expansion of key sectors, including transport, hospitality, logistics, and financial services.
Key Catalyst
He also said that as a key catalyst in this growth story is Emirates NBD, which continues to perform and transform, as Dubai’s largest bank and the most profitable financial institution in the region.
“The Dubai Economic Agenda, D33 aims to double the size of Dubai’s economy by 2033 and position the city among the top three global cities. Emirates NBD is actively driving progress through strategic initiatives that prioritise innovation, financial inclusion, and sustainable growth, solidifying its standing as a critical enabler in Dubai’s vision,” he said.
He said that Emirates NBD expanded its sustainable finance offerings last year with innovative solutions, such as Sustainable Fixed Deposits and ESG-linked working-capital facilities for customers across the region. It also introduced the region’s first globally recognised Sustainability- Linked Loan Bond Framework, fully aligned with the latest International Capital Market Association guidelines. “Our ESG Forward Journey outlines a comprehensive roadmap to enhance sustainable finance governance, achieve net zero emissions for key sectors, and reduce Scope 1 & 2 Greenhouse Gas emissions by 30% from the 2023 baseline by 2030. We have also committed to provide USD 30 billion in sustainable finance and achieve 25% female representation in senior leadership by 2027,” he added.
The meeting approved the Board’s proposals with respect to non-convertible securities to be issued by the Bank subject to obtaining the necessary approvals from the relevant regulatory authorities.
