Emirates NBD was created by a merger between EBI and NBD. It operates in the Middle East, North Africa, and Turkey (MENAT) region 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 2021, 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.