Emirates NBD holds its 16th General Assembly Meeting

Emirates NBD holds its 16th General Assembly Meeting

Dubai: Emirates NBD (DFM: EmiratesNBD), a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, held its 16th General Assembly Meeting on 22nd February 2023.

At the General Assembly Meeting, a review of the Group’s performance during 2022 was presented. Commenting on the business environment, Emirates NBD Chairman, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, said, “The UAE banking sector performed well in 2022, benefitting from an increase in economic activity supported by elevated oil prices, normalising non-oil activity and higher interest rates. Despite the challenging global macroeconomic environment, the International Monetary Fund said Gulf economies grew at the fastest pace in nearly a decade and our Research unit estimate the UAE’s GDP grew 7.6% in 2022, positively impacting banks. As tourism and travel rebounded strongly, the UAE’s non-oil economy grew by 5.6%, which in turn supported growth across a range of other service sectors. Multiple indicators point to an increase in population in the UAE that have also contributed to stronger domestic demand.” His Highness added, “Taking advantage of the promising landscape in the UAE, Emirates NBD Group empowered customers to benefit from this strong economic growth in 2022. This helped the Group deliver strong