Emirates NBD

Emirates NBD Bank PJSC is Dubai's government-owned bank and is one of the largest banking groups in the Middle East in terms of assets.

Emirates NBD Bank PJSC
TypePublic
IndustryBanking
Financial services
Insurance
Founded19 June 1963; 59 years ago (1963-06-19)
HeadquartersDeira, Dubai, United Arab Emirates
Key people
Ahmed bin Saeed Al Maktoum
(Chairman)
Products
RevenueIncrease US$6.31 billion (2020)
AUMDecrease US$126.32 billion (2020)[1]
Total assetsIncrease US$218.76 billion (2020)
Number of employees
Increase 14,000 (2020)[2]
ParentInvestment Corporation of Dubai
Websitewww.emiratesnbd.com

History and profileEdit

Emirates NBD was initially formed as National Bank of Dubai (NBD) on 19 June 1963 by then Dubai's ruler Sheikh Rashid bin Saeed Al Maktoum, forming the first national bank established in Dubai. NBD merged with Emirates Bank International (EBI) on 6 March 2007, to form Emirates NBD. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM).

On 1 December 2012 Dubai Bank was acquired by Emirates NDB.[3][4][5]

As of 31 December 2020, total assets were AED 698 billion, deposits of AED 464 billion, the total income of AED 23.21 billion, and a net profit of AED 7 billion.[1] The Group has operations in the UAE, Egypt, India, Saudi Arabia, Singapore, the United Kingdom, and representative offices in China and Indonesia.

On October 7, 2022, Emirates NBD Bank PJSC sold 86,316,964 ordinary shares of BankIslami Pakistan Limited to JS Bank Limited.[6]

Currently, more than 9,000 people, representing 70 nationalities, are employed by Emirates NBD, making it one of the largest employers in the UAE.

Emirates NBD, has announced its plans for further expansion in India, following approval from the Reserve Bank of India (RBI) to open two additional branches in Gurugram and Chennai to cater to both the northern and southern markets of India.[7]

Emirates NBD Group companiesEdit

  • Emirates NBD Bank PJSC
  • Emirates Islamic PJSC
  • Emirates NBD Asset Management
  • Emirates NBD Securities
  • Network International LLC (49% sold to AbrCapital in 2010),[8] credit and debit Card Issuing & Processing company.
  • ETFS LLC
  • Emirates NBD Capital Ltd (DIFC)
  • Emirates NBD Trust Company Ltd (Jersey)
  • Emirates NBD Capital LLC (KSA)
  • Tanfeeth
  • Liv. (Digital banking)[9]

Associate companiesEdit

  • ENBD REIT

See alsoEdit

ReferencesEdit

  1. ^ a b "Emirates NBD reports Dh7 billion net profits in 2020". gulfnews.com.
  2. ^ "Emirates NBD Announces Full Year 2020 Results". mediaoffice.ae.
  3. ^ "Dubai Bank PJSC: Private Company Information – Businessweek". Bloomberg L.P. 30 November 2012. Retrieved 22 April 2016.
  4. ^ Hunter, Gregor Stuart (11 October 2011). "Emirates NBD to takeover Dubai Bank". The National. Retrieved 17 November 2022.
  5. ^ "Dubai's Emirates NBD seals biggest acquisition with purchase of Turkish lender Denizbank". Arab News. Retrieved 17 November 2022.
  6. ^ Report, Recorder (7 October 2022). "JS Bank allowed to acquire 86.32m ordinary shares". Brecorder. Retrieved 20 November 2022.
  7. ^ "Emirates NBD mulls plans for expansion in India".
  8. ^ Arif Sharif (22 December 2010). "Abraaj to Buy $100000 Million Emirates NBD Unit Stake". Bloomberg. Retrieved 22 April 2016.
  9. ^ "Emirates NBD launches Liv. digital banking proposition". Emirates NBD.

External linksEdit