2013 Awards and Strategic Priorities
Outlook
Emirates NBD
Economic
Outlook
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During 2012 the UAE economy continued to display resiliency with an estimated GDP
growth of 3.7% underpinned by rising oil output and modest private sector expansion
Continued strength and growth witnessed in Dubai's traditional trade, logistics, tourism
and retail sales sectors and signs of green shoots in the Dubai property market
For 2013 the external environment remains challenging in the context of recessionary
risks in the Eurozone, below trend US growth and an expected slowdown in Asia
Nevertheless, the UAE remains well-positioned to enjoy robust GDP growth of 3.8% in
2013 driven by solid expansion in non-oil sectors offsetting an expected stabilisation in oil
production
In Dubai, growth is expected to accelerate to 3.9% in 2013 from an estimated 3.2% in 2012
as manufacturing, tourism and hospitality and non-oil foreign trade continue to benefit from
strengthening regional consumption and investment
Emirates NBD is well placed to take advantage of the expected acceleration in Dubai's
growth
Capitalisation and liquidity continue to be extremely strong, offering resilience and
flexibility for the future
Significantly de-risked and strengthened balance sheet offers strong platform for
capturing future growth opportunities
The Bank has a clear strategy in place and is focused on relentless execution
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