Emirates NBD Bank Reports AED 19 Billion in Net Profits Over 9 Months, Showcasing Robust Financial Performance

Emirates NBD, the UAE's largest bank, posted record profits of 19 billion dirhams ($5.2 billion) in the first nine months of 2025, driven by unprecedented lending growth that helped offset the impact of falling interest rates. The bank also announced a major $3 billion acquisition of a 60% stake in India's RBL Bank, marking its biggest international expansion move.

The Dubai-based lender saw revenues climb 12% to 36.7 billion dirhams compared to the same period last year. But here's what makes these results particularly impressive: the bank managed this growth despite central banks cutting interest rates, which typically hurts bank profitability.

The key was lending volume. Emirates NBD's loan book expanded by a massive 99 billion dirhams (19%) in just nine months - that's unprecedented growth for the bank. This surge came from strong demand both locally in the UAE and internationally across the bank's regional network.

Deposits also grew strongly, up 94 billion dirhams (14%), with most of the increase coming from low-cost current and savings accounts. This is crucial because it means the bank isn't paying high interest rates to attract deposits, which helps maintain profit margins.

The bank's Islamic banking arm, Emirates Islamic, hit record pre-tax profits of 3.2 billion dirhams. Saudi Arabia continued to be a standout market, with lending there jumping 38% in the nine-month period.

**India Expansion**

The RBL Bank deal represents Emirates NBD's biggest bet on international growth. The acquisition, announced in October, will give the UAE bank a 60% controlling stake in the Indian lender through preferred shares worth 268.5 billion rupees.

This isn't just about buying a bank - it's about accessing India's massive and growing economy. The transaction is expected to close by the end of the second quarter of 2026, pending regulatory approvals. Emirates NBD will also merge its three existing Indian branches with RBL Bank.

India's banking sector has been attracting international interest as the country's economy continues expanding. For Emirates NBD, this deal fits into a broader strategy of building scale in key markets beyond the UAE.

**Market Context**

The results come as Middle Eastern banks have been benefiting from strong economic growth in the region, particularly in the UAE and Saudi Arabia. Government spending on infrastructure projects and Vision 2030 initiatives has boosted lending demand.

However, the interest rate environment has become more challenging. Central banks have been cutting rates, which typically squeezes the difference between what banks earn on loans and pay on deposits - their main source of income.

Emirates NBD's ability to grow lending volumes so dramatically shows the bank is gaining market share and finding new opportunities despite these headwinds. The bank's digital wealth platform also helped boost assets under management to $53 billion.

For investors, these results demonstrate that well-positioned regional banks can still deliver strong growth even when interest rate trends work against them. The key is volume growth and maintaining low funding costs - exactly what Emirates NBD achieved in these nine months.