Emirates NBD Bank PJSC is
Dubai's government-owned bank and is one of the largest banking groups in the
Middle East
The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq.
The term came into widespread usage by the United Kingdom and western Eur ...
in terms of assets.
History and profile
Emirates NBD was initially formed as the National Bank of Dubai (NBD) on 19 June 1963 by then
Dubai
Dubai (Help:IPA/English, /duːˈbaɪ/ Help:Pronunciation respelling key, ''doo-BYE''; Modern Standard Arabic, Modern Standard Arabic: ; Emirati Arabic, Emirati Arabic: , Romanization of Arabic, romanized: Help:IPA/English, /diˈbej/) is the Lis ...
'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
The Dubai Financial Market (DFM) () is a stock exchange located in Dubai, United Arab Emirates. It was founded on 26 March 2000.
Overview
, there are 67 companies listed on DFM. Most of them are United Arab Emirates, UAE-based companies and a fe ...
(DFM).
On 1 December 2012
Dubai Bank was acquired by Emirates NBD.
As of 31 December 2020, total assets were
billion
Billion is a word for a large number, and it has two distinct definitions:
* 1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is now the most common sense of the word in all varieties of ...
, deposits of AED 464 billion, a total income of AED 23.21 billion, and a net profit of AED 7 billion, making it one of the top financial institutions of the
UAE
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal elective monarchy made up of seven emirates, with Abu Dhabi serving as i ...
, with a brand value of billion.
The Group has operations in the UAE,
Egypt
Egypt ( , ), officially the Arab Republic of Egypt, is a country spanning the Northeast Africa, northeast corner of Africa and Western Asia, southwest corner of Asia via the Sinai Peninsula. It is bordered by the Mediterranean Sea to northe ...
,
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...
,
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...
,
Singapore
Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
, the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...
, and representative offices in
China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...
and
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania, between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. Comprising over List of islands of Indonesia, 17,000 islands, including Sumatra, ...
.
On October 7, 2022, Emirates NBD Bank PJSC sold 86,316,964 ordinary shares of
BankIslami Pakistan Limited to
JS Bank Limited.
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
Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...
(RBI) to open two additional branches in
Gurugram
Gurgaon (), officially named Gurugram (), is a satellite city of Delhi and administrative headquarters of Gurgaon district, located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest o ...
and
Chennai
Chennai, also known as Madras (List of renamed places in India#Tamil Nadu, its official name until 1996), is the capital city, capital and List of cities in Tamil Nadu by population, largest city of Tamil Nadu, the southernmost states and ...
to cater to the northern and southern markets of India.
It has been widely reported that the bank is in the race with
Sumitomo Mitsui Banking Corporation
is a Japanese multinational banking financial services institution owned by the Sumitomo Mitsui Financial Group, which is also known as the SMBC Group. It is headquartered in the same building as SMBC Group in Marunouchi, Chiyoda, Tokyo, Japan. ...
to acquire a majority stake in
Yes Bank.
See also
*
Islamic banking
Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some ...
*
Noor Bank
*
List of banks in the United Arab Emirates
*
Emirates Development Bank
References
External links
*
Emirates Islamic
{{DEFAULTSORT:Emirates Nbd
Banks established in 1963
Companies listed on the Dubai Financial Market
Banks of the United Arab Emirates
Emirati companies established in 1963
Emirati companies established in 2007
Banks established in 2007