Q3 2023 Emirates NBD Bank PJSC Earnings Call Transcript
Hello, and welcome to the Emirates NBD Q3 2023 results announcement call and webcast. My name is Alex, I'll be coordinating the call today. (Operator Instructions)
And I'll hand it over to your host Shayne Nelson, Group CEO, of Emirates NBD. Please go ahead.
Thank you, Alex, and welcome to our third quarter results. I think it's the first quarter results I have never done in the rain, so it's very unusual.
The GCC economies have been resilient against a weaker global backdrop and higher interest rates. PMI surveys indicate robust activity across the region. Our research team revised up their forecast for non-oil growth in the UAE to 5%.
UAE's National Energy Strategy expects up to AED 200 billion of investment as it triples the contribution of renewable energy by 2030. Other economic sectors such as tourism are flourishing, with Dubai tourist numbers recovering to pre-pandemic levels.
In the wider MENAT region, Egypt continues to explore asset sales, reflecting their
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