2024 ANNUAL REPORT Enabling Tomorrow

About Us

A bank built to move a nation.

As the UAE continues its sustainable industrial growth, Emirates Development Bank plays a vital role in turning ambition into action — enabling businesses to scale, sectors to thrive, and the nation to lead.

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Vision, Mission

and Objectives

At a Glance

Financial

Highlights

Year in

Review

Chairman’s

Message

EDB’s strong financial performance in 2024 reflects its continued focus on strategic delivery and measurable outcomes.

His Excellency Dr Sultan Ahmed Al Jaber

Minister of Industry and Advanced Technology Chairman of Emirates Development Bank

CEO's

Message

With a sharp focus on impact, innovation, and partnerships, we delivered a record-breaking performance.

Ahmed Mohamed Al Naqbi

Chief Executive Officer

Our Strategy

Every initiative EDB drives is anchored to four national priorities:

Through focused financing, ecosystem-building, and non-financial support, we direct our energy and expertise into five strategic sectors — the pillars of the UAE’s next economic chapter:

1. MANUFACTURING

2. RENEWABLES

3. HEALTHCARE

4. ADVANCED TECHNOLOGY

5. FOOD SECURITY

MANUFACTURING

RENEWABLES

HEALTHCARE

ADVANCED TECHNOLOGY

FOOD SECURITY

Delivering on the mandate

EDB’s third year of strategic execution

In 2024, EDB reached a defining point in its five-year strategy — a year where vision turned decisively into impact. The Bank closed 2024 with a net profit of AED 307 million, welcoming over 664 new customers, and recording a 218% year-on-year increase in industrial financing, reaching AED 8.6 billion. This momentum translated directly into the UAE’s economy, driving a 68% increase in industrial GDP contribution and the creation of more than 14,000 new jobs — bringing ideas, factories, and ambitions to life across every emirate.

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EDB’s Impact
on the UAE Economy

Emirates Development Bank’s economic impact

Since launching its new strategy in April 2021, EDB has delivered measurable national impact — driving industrial growth, enabling private-sector expansion, and contributing to the UAE’s economic transformation.

AA

Rating
by S&P Global — the highest among financial institutions in the UAE and the Middle East and North Africa
AED

15.7

mn
Total cumulative financing*
Sector financing highlights (cumulative)*
AED8bn
Manufacturing
AED3bn
Advanced Technology
AED1.74bn
Renewable Energy
AED1.22bn
Food Security
AED1.24bn
Healthcare
GDP and employment
AED1.74bn
Contribution to the UAE’s Industrial GDP
27,606
Industrial jobs created (cumulative)
Investment mobilisation
AED50.2bn
Mobilised CAPEX
AED15bn
Greenfield projects supported
AED7bn
FDI attracted
Enterprise-level financing
AED758mn
Supported SME financing via Credit Guarantee Scheme in collaboration with partner banks
AED8.9bn
Large corporate financing
AED6.8bn
SME financing

*The difference between the total of the 5 sectors and the total cumulative financing figure is due to rounding up.

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Strategic

Partnerships

Business Divisions

  • Micro, Small and Medium Enterprises (mSMEs)

    At EDB, micro, small, and medium enterprises (mSMEs) are recognised as the engine of national economic growth — driving innovation, creating jobs, and strengthening supply chains across the UAE. In 2024, the division delivered a strong year of performance, advancing EDB’s strategy to broaden access to finance, simplify pathways for entrepreneurs, and build strategic partnerships across the banking ecosystem.

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  • Wholesale and Institutional Banking

    TEDB’s Wholesale & Institutional Banking (WIB) division connects large corporates, industrial champions, and key institutions with the financing they need to scale, with a focus on the sectors and enterprises critical to the UAE’s long-term resilience and global competitiveness.

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  • Treasury and Investments

    In 2024, EDB’s Treasury and Investments (T&I) division played a critical role in sustaining the Bank’s strong financial position while enabling long-term growth. By managing liquidity, optimising investments, and diversifying funding sources, T&I strengthened EDB’s ability to deliver impact while navigating an evolving financial landscape.

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Support Functions

  • Operations & IT

    At EDB, operational excellence and technological strength are the foundations that enable the Bank to deliver on its national mission. In 2024, the Operations & IT teams worked behind the scenes — yet at the very heart of progress — driving system upgrades, platform launches, cybersecurity enhancements, and infrastructure growth that allowed the Bank to scale, innovate, and serve the UAE’s evolving needs.

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  • Our People

    Behind every financing milestone, sectoral breakthrough, or strategic partnership at EDB, there is a team of people making it happen. The Support Functions – led by the Human Resources team – play a critical role in building and sustaining the organisational strength that enables the Bank to deliver on its mandate.

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