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The UAE is a pioneering and forward-thinking nation that thrives on national development and international cooperation whilst retaining its own unique heritage and culture. Today it is seen as a beacon that serves as an example for other countries in the region and other parts of the world. As we progress into the 21st century, the UAE knows that there is more to be done with new challenges to address.
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EDB’s vision is to be the main financial engine dedicated to the economic development and industrial advancement of the UAE.
To support the UAE’s economic diversification agenda by enabling individuals, SMEs and corporates in priority industrial sectors, while promoting innovative technologies to build a knowledge-based economy.
Officially launched operations
Fitch Rating - S&P
Global AA- / Stable
jobs created within
the UAE industrial
sector in 2022
Contributed to the
UAE's GDP in 2022
Employees
Owned by the UAE
Federal Government
Net Profit
Total Assets
Total Equity
Total Loans
Approved
“Guided by the directives and forward-thinking vision of our leadership, Emirates Development Bank (EDB) played a pivotal role in 2022 that supported the national economic diversification and industrial agenda of the UAE. The Bank’s growing financing activities, product suite, and advisory capabilities for SMEs and Large Corporates have enabled it to achieve record levels of approved loans, GDP contribution, and job creation in the sectors it supports.”
“2022 was an outstanding year for Emirates Development Bank (EDB) where we worked closely with all our key stakeholders to achieve record levels of loans approved, GDP contribution, and job creation. As a key financial engine for the economic development and industrial advancement of the nation, EDB clearly demonstrated its value to the economy by offering patient capital and favorable financing terms to customers operating across the Bank’s target strategic sectors. In the process, we also did our part in cultivating the UAE’s entrepreneurship ecosystem vis a vis our digital banking products and services in addition to curating education and mentoring programmes aimed at advancing credit worthiness and financial literacy.”
Serve as a key financial engine to enable and empower the country’s industrial development strategy
Raise the Bank’s contribution to national GDP by over AED 10 billion by 2026
Position the UAE as a key industrial hub for local and global businesses looking to set or expand their operations.
EDB is tasked with providing patient and competitively priced financing in support of the UAE’s economic growth and industrial development. The Bank is also identified as a major enabler of Operation 300bn, which is the Ministry of Industry and Advanced Technology’s comprehensive plan for developing the UAE’s industrial sector and growing the national economy.
At EDB, as part of the assessment process, every loan is evaluated through the Bank’s proprietary ‘Development Impact Scorecard.’ The tool measures more than 20 quantitative and qualitative factors regarding each loan’s potential impact on economic development.
Qualitative criteria include whether the project is a greenfield development, includes local procurement, has UAE national ownership, or creates new business for local SMEs. Quantitative criteria include the number of high-skilled jobs created and percent private sector ownership
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To raise awareness across the UAE business community regarding the Bank’s revised mission, target customers and offerings. The bank actively engages with relevant stakeholders. In 2022, this included hosting 12 roadshows and CEO roundtables with free zones, emirate-level economic departments and chambers of commerce, and other entities.
As an additional step to bring word of the offerings to a larger audience, EDB signed 8 memoranda of understanding during the year, raising the total number of MoUs in place with free zones, ministries and economic development departments to 24.
Strategic partnerships include,
but are not limited to:
Ministry of Climate & Environment
Ministry of Economy
Ministry of Industry & Advanced Technology
Abu Dhabi Chamber of Commerce & Industry
Abu Dhabi Department of Economic Development
Abu Dhabi Exports Office
Abu Dhabi Fund for Development
Abu Dhabi Industrial Development Bureau
Abu Dhabi Investment Office
Abu Dhabi Port (KIZAD Zonecorp)
Ajman Chamber of Commerce and Industry
Ajman Department of Economic Development
Ajman Freezone
Dubai Industrial City
Dubai Industries & Exports
Food Tech Valley
Fujairah Municipality
Hamriyah FZA
Jebel Ali Free Zone
Masdar City Free Zone
RAK Economic Zone
Sharjah Chamber of Commerce & Industry
Umm Al Quwain Free Trade Zone
mSME’s work in the micro-business segment has not only established EDB as a leading bank serving micro businesses, but also earned it the title “Best Micro Finance Bank Middle East 2022” by the Global Banking & Finance Awards.
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Building on the strong momentum established in 2022, the Wholesale and Institutional Banking division is looking to empower the UAE’s industrial sector even further in 2023.
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To accommodate a more than doubling of staff and to foster the Bank’s distinctive approach to its work, the Operations division led the opening of new offices in Abu Dhabi and Dubai.
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The Bank continued to distinguish itself as a preferred employer in the UAE. This was reflected in the 2022 employee satisfaction survey, conducted by an independent third-party, that registered a score of 86 percent, an eight-point increase over last year.
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