In 2006, EBI expanded assets by 61.4% to Dh95.9bn ($25.8bn) and net profits by 9.2% to Dh1.9bn. Tier 1 capital was up 14.6% to Dh8.9bn and RoE was a solid 22.6%. In the first half of 2007, core profits rose by 67%, higher than that of most of the bank’s peers, supported by asset growth of 60%.
The EBI/NBD merger is regarded as the first move towards necessary consolidation across the region and further significant growth is expected from Emirates NBD.
“We are delighted to win this award. This is a reflection of our performance as an institution and the ability to deliver consistently superior results to our shareholders, customers, staff, regulators and the community at large,” says Rick Pudner, CEO of Emirates NBD.
“We have recently concluded the largest banking merger in the region’s history, creating the largest bank in the Gulf Co-operation Council. This combination of two healthy and strong banks, with an inherent appetite to innovate, provides a launch pad to further enhance our client and service proposition, deliver enhanced shareholder value and make us the true employer of choice.”
