Emirates NBD was created by a merger between EBI and NBD. It operates in the Middle East, North Africa, and Turkey, and its international operations contributed 38% of total income in 2021. In 2021, the company’s net profit hit $2.5 billion, an increase of 34% compared to 2020. In the same year, Emirates NBD signed an agreement with Masdar to structure and help manage the first sustainable real estate investment trust (REIT) in the U.A.E., worth $258.4 million.