Emirates NBD Reports Dh6.4 Billion Q3 2026 Profit as Lending Surges
Emirates NBD Reports Dh6.4 Billion Profit in Q3 2026 as Lending Surges
Emirates NBD, Dubai's largest bank, reported a net profit of Dh6.4 billion for the third quarter of 2026, maintaining the same level as the previous quarter. Strong lending activity and the addition of India's RBL Bank helped expand the group's balance sheet.
The bank's total income rose 6% quarter-on-quarter to Dh14.3 billion, while profit before tax remained steady at Dh8 billion, according to its financial results published on October 21, 2026.
Nine-Month Profit Rises to Dh19.3 Billion
For the first nine months of 2026, Emirates NBD recorded a net profit of Dh19.3 billion, representing a 2% increase compared with the same period last year.
Profit before tax rose 4% to Dh24.3 billion, while total income increased 15% year-on-year to a record Dh42.2 billion.
Net interest income climbed 14% to Dh29.4 billion, and non-funded income grew 18% to Dh12.8 billion.
Group CFO Patrick Sullivan said the quarterly pre-tax profit reflected consistent performance throughout the year.
Operating Expenses and Profitability
The bank's operating expenses increased 18% quarter-on-quarter to Dh4.9 billion in the third quarter. As a result, the quarterly cost-to-income ratio rose to 34.2%, compared with 30.7% in the previous quarter.
For the first nine months, operating expenses increased 19% to Dh13.3 billion. The cost-to-income ratio reached 31.4%, up from 30.5% a year earlier.
Operating profit before impairment allowances rose 14% to Dh29 billion during the nine-month period.
Loans and Deposits Record Strong Growth
Emirates NBD reported substantial growth in lending and deposits during 2026.
Key figures include:
Gross loans: Dh833 billion, up 27% since the start of the year
Deposits: Dh935 billion, up 19% year-to-date
Total assets: Up 18% since the start of the year
New lending: Dh174 billion during the first nine months
Excluding the contribution from RBL Bank, loan growth was 18% year-to-date, while deposits increased 12%.
Retail loans grew 17%, and corporate loans increased 22%, highlighting continued demand for financing across the bank's customer segments.
Asset Quality and Capital Position
The bank reported Dh2.1 billion in impairment allowances during the first nine months, primarily driven by provisioning at its Turkish subsidiary, DenizBank, partly offset by recoveries at Emirates NBD.
The impaired loan ratio improved to 2.0%, compared with 2.5% a year earlier.
The common equity tier 1 capital ratio stood at 13.4%, down from 14.7% a year earlier. Meanwhile, the liquidity coverage ratio improved to 147% compared with the previous quarter.
Wealth Management and Digital Banking Expansion
Emirates NBD said it continues to invest in wealth management, digital services and generative artificial intelligence to support future growth.
Assets under management in the UAE increased 15% since February, reflecting the group's wealth management strategy.
The bank's digital banking application, ENBD X, now offers 237 services, compared with 150 services when it launched in 2023.
Emirates NBD Capital also executed more than 70 debt capital markets transactions during the year, raising over $60 billion across 13 countries.
UAE Economy Supports Banking Activity
The bank said the UAE economy continues to expand, supported by domestic demand, population growth and credit growth.
Tourism, trade and logistics activity remained more moderate amid regional tensions. The bank also expects oil production to increase modestly in 2026 before accelerating in 2027.
Overall, Emirates NBD's latest results highlight continued income growth, strong lending activity and an expanding balance sheet, alongside higher operating costs and ongoing investment in digital banking and wealth management.
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