"Operating profit was 29 percent lower mainly due to lower interest rates & transaction volumes, coupled with higher impairment allowances," he added. According to the CEO, Emirates NBD's significant investment in digital and technology over the last four years allowed the bank to seamlessly adjust to this change in customer banking behaviour. "We have provided interest and principal deferral support to over 103,000 customers in the UAE. Many other customers have benefited through waiver of fees and other support, both within the UAE and in the other geographies we operate in. The safety and well-being of our customers and employees remains our top priority. Following a challenging 2020, the expectation for economic growth in the countries that we operate in is more optimistic," Nelson said. Emirates NBD Research expects real GDP growth for 2021 to recover to 3 percent in Dubai and 1.9 percent in the UAE, with the non-oil sector expected to grow by 3.5 percent.