EMIRATES NBD-

Emirates NBD saw its net income fall 10.7% y-o-y to AED 6.3 bn in 2Q 2025, as lower impairment reversals and a higher tax offset growth in core banking income, according to its financials and a separate earnings release (here (pdf) & here (pdf). The bank posted a net impairment of AED 187 mn during the quarter, compared with 1.4 bn in reversals in 2Q 2024.

Total operating income saw a 12.6% y-o-y increase to AED 12.1 bn during the quarter, driven by increases in both net interest income and non interest income, regional expansion and higher fee and commission income.

The lender saw its net income decline 9.1% y-o-y to AED 12.5 bn in 1H 2025, weighed down by a nearly AED 2 bn drop in recoveries and a higher corporate tax rate, despite strong lending, deposit growth, and revenue gains. Meanwhile, total operating income surged 12% y-o-y to AED 23.9 bn during the period, with an AED 41 bn uptick in lending and a AED 70 bn growth in deposits.

Emirates NBD’s Islamic banking arm, Emirates Islamic, saw its net income hold steady at AED 853.8 mn in the second quarter, compared to AED 852.3 mn in 1Q, according to its financials (pdf). Operating income rose 10% y-o-y to AED 1.5 bn, supported by a 16% rise in income from financing receivables and investment products, which reached AED 1.7 bn.

On a six-month basis: The Islamic lender saw a 12% y-o-y increase in net income to AED 1.9 bn. The growth was driven by higher income across both funded and non-funded lines, as well as net reversal in impairments which came in at AED 135.9 mn compared to a loss of AED 85.5 mn the year before, according to a separate earnings release (pdf). Operating income rose 8.9% y-o-y to AED 2.9 bn, buoyed by a 15.8% increase in income from financing receivables and investments products, which reached AED 3.2 bn for the period.

REMEMBER- Emirates NBD fully took over Emirates Islamic, securing a 100% stake (up from 99.89%) in the Shariah-compliant lender, and delisted it from the DFM in June.

DU-

Du’s revenues reach AED 3.9 bn in 2Q: Emirates Integrated Telecommunications Company (du) saw its net income increase 25.1% y-o-y to AED 726.8 mn in 2Q 2025, according to the company’s financial statements (pdf). The firm’s topline rose 8.6% y-o-y to AED 3.9 bn driven by continued robust results across its different business segments, continued revenue diversification, and strong market position, according to a separate earnings release (pdf). The firm saw its subscriber base grow with a 10.8% increase in mobile and 12% in fixed-line services.

On 1H basis: Net income rose 22.4% y-o-y to AED 1.4 bn. Revenues also grew 8% y-o-y to AED 7.8 bn.

Dividends: The board approved an interim dividend of AED 0.24 per share for the first half of the year, representing a 20% increase y-o-y.

Looking ahead: The firm now sees revenues growing 6-8% this year, upgrading its guidance for the year on the back of the strong growth in 1H.

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