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Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
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Start your banking journey with the leading bank in the region.
Find a suitable account and applyDiscover the benefits of being our customer by browsing through our banking packages.
Learn more about banking packagesLearn all about how to use your account's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
All our cards offer you an exciting range of rewards and benefits.
Find a suitable card and applyGet the most out of your credit card by exploring its different benefits.
Learn all about how to use your card's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
Here's how to make the most out of your loan with us.
Visit our dedicated support center for answers to all your banking-related questions.
Our various FX products and services help you conduct your international transactions easily.
Our wide range of transfer options make it easier for you to send money locally and internationally.
Learn all about how you can seamless use our services to transfer money.
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Know more about our Wealth servicesLife is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Access to over 11,000 stocks and ETFs in Global and UAE markets
Visit our dedicated support center for answers to all your banking-related questions.
Everyday banking is a lot easier with our digital banking platforms and services.
Discover more about banking with usWe have over 200 branches and 900 ATMs and CDMs across the UAE and overseas.
Learn more about our services and get the most out of your banking relationship with us.
Visit our dedicated support center for answers to all your banking-related questions.
Start your Priority Banking journey and live your success
Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Life is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Everyday banking is a lot easier with our digital banking platforms and services.
Learn more about our services and get the most out of your banking relationship with us.
We welcome you to a bespoke banking experience tailored to suit your private banking & wealth management needs, should you, your family, or your business have USD 5 Million (or currency equivalent) and above as Assets Under Management with us.
Dubai, July 15, 2015: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, delivered impressive results for the period ending June 30, 2015, recording its 14th consecutive quarter of growth, on the back of solid overall performance and increased customer acquisition.
For the first half of 2015, Emirates Islamic announced a net profit of AED 447 million, an increase of 97 per cent over H1 2014. Total operating income (net of customer share of profit) grew by 33 per cent to AED 1.22 billion compared to the same period last year. The bank's financing book receivables increased by 17 per cent compared to December 2014.
Emirates Islamic First Half 2015 Financial Highlights:
Empowered by the strong growth, the bank has continued strengthening its balance sheet, maintaining a solid liquidity position with a financing to deposit ratio of 95 per cent. The bank's healthy position can be further evidenced as non-performing financing receivables are at a record low of 7.6 per cent. Likewise, the bank has further improved its coverage ratio to 106 per cent.
The strong performance of the bank can be attributed to increased customer acquisition with growth exceeding 10 per cent in customer base over the past year. The bank also recorded a robust cross-sell ratio, with its customers availing at least three products on average, a further evidence of its increased customer engagement.
Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, said: "Islamic banking plays an increasingly important role in the nation's economy and Emirates Islamic is proud to be among the key drivers of growth and development in this critical sector. The bank has demonstrated exceptional results, with consistent growth for the 14th consecutive quarter, emphasizing our leadership position in the UAE's Islamic banking sector. We are one of the fastest growing banks in the region, and through our commitment to innovation and customer experience, we will continue to set new benchmarks for the Islamic and overall banking sector."
"As more customers in the UAE embrace Islamic banking, Emirates Islamic distinguishes itself through strategic pricing, product innovations and exceptional customer service. We are currently revamping our branch model to provide customers a unique banking experience, with the first branch scheduled to be ready by August 2015," Bin Ghalaita added.
Emirates Islamic has regularly been recognised as a market leader by several world renowned organizations. The bank was named ‘Best Islamic Bank in the UAE' by World Finance magazine for the second time in three years and also won ‘Best Savings Account' and ‘Best New SME product' at the prestigious Banker Middle East Product Awards 2015. The Nasdaq Dubai Murabaha platform, a joint initiative with Nasdaq Dubai won the prestigious Euromoney Award for Innovation in Islamic Finance 2015. The bank also won the ‘Best Prepaid Card in the Region' award in the Rewards & Loyalty Innovation category at the Prepaid: Middle East Awards ceremony held earlier this year in Dubai.
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