Emirates NBD, recognized as Dubai’s largest bank by assets, surpassed profit expectations for the first quarter, largely due to significant growth in loans and interest income. The bank reported a net profit of 6.2 billion dirhams ($1.69 billion) for the three months ending March 31, compared to 6.7 billion dirhams during the same period last year.

Analysts had anticipated a profit of approximately 5.1 billion dirhams, according to estimates compiled by LSEG. This strong performance highlights the bank’s ability to navigate the market effectively and capitalize on the increasing demand for loans in the region.

The exchange rate stands at $1 equal to 3.6724 UAE dirhams, further emphasizing the financial results in a clear context for investors and stakeholders.