Slide 1: Results Presentation First Quarter 2025
Results Presentation First Quarter 2025 22nd April 2025
Slide 2: Important Information
2 Important Information Disclaimer The material in this presentation is general background information about That could cause actual results, and the Group’s plans and objectives, Emirates NBD's activities current at the date of the presentation. It is information to differ materially from those exp
Slide 3: Executive Summary Q1-25 Results Key Metrics and Guidance
3 Executive Summary Q1-25 Results Key Metrics and Guidance AED 7.8 bn Profit before 11% higher income y-o-y tax on strong balance Income Profit propelled by strong loan Profit growth and improving sheet growth & stable before tax deposit mix margins AED 11.9 bn AED 7.8 bn AED 6.2 bn +5% q-o-q +56% q
Slide 4: AED 7.8 bn Profit before tax rises 56% q-o-q and 2% y-o-y
4 AED 7.8 bn Profit before tax rises 56% q-o-q and 2% y-o-y on strong loan growth and improving deposit mix Income Statement Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ • Profit Before Tax up 56% q-o-q and 2% y-o-y to AED 7.8 bn (AED bn) on asset growth and improving deposit mix Net interest income 8.5 7.4 14%
Slide 5: NIM tracking towards guidance range, CASA growth helping absorb lower rates
5 NIM tracking towards guidance range, CASA growth helping absorb impact of lower interest rates Net Interest Margin (%) • Q1-25 NIM up 6 bps y-o-y at 3.58% as strong CASA growth and higher 3.95 DenizBank margins more than offset the impact of interest rate cuts in 2024 3.75 • Q1-25 NIM down 7 bps q
Slide 6: Strong client flows driving non-funded income growth
6 Strong client flows driving non-funded income growth Non-funded income • Healthy trend in Net Fee and Commission Income, up 15% q-o-q and 14% y-o-y Q1-25 Q1-24 %∆ YoY Q4-24 %∆QoQ (AED m) from successful local & international retail card business, higher Investment Banking, Trade Finance and Wealth
Slide 7: Loan and deposit growth momentum continues
7 Loan and deposit growth momentum continues Gross Loans by Type • Loans up 3.5% by AED 18bn in Q1-25 on very strong underlying growth: (AED bn) – Over half of increase in lending from International network 3.5% – AED 20 bn of new Retail lending in Q1-25 as loans increased 7% by AED 9 bn q-o-q – Cor
Slide 8: Credit quality continues to improve
8 Credit quality continues to improve Impaired loans and allowances • NPL ratio improved to 3.1% in Q1-25 on further recoveries • 34 bps Cost of Risk credit in Q1-25 on significant repayments, more than NPLs 4.4% 4.2% 3.9% 3.3% 3.1% offsetting proactive provisioning for impact of higher interest rat
Slide 9: Cost to Income ratio within guidance as spend delivers strong business growth
Cost to Income ratio within guidance as spend delivers strong 9 business growth and digital & international investment continues Cost to Income Ratio (%) • Cost to Income ratio at 30.9% for Q1-25 comfortably within guidance, as 36.4% spend delivering strong business growth and digital & internationa
Slide 10: Funding & liquidity remains very healthy
10 Funding & liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) • LCR of 184% and ADR of 75% demonstrating healthy liquidity 85 240 • Liquid assets* of AED 117 bn cover 13% of total liabilities, 17% of deposits ADR % LCR % • ENBD issued AED 8 bn of term debt & sukuk
Slide 11: Common Equity Tier 1 ratio strong at 14.7% supporting asset growth
11 Common Equity Tier 1 ratio strong at 14.7% supporting asset growth Capital Progression • 14.7% CET-1 ratio remains very strong in Q1-25 as retained earnings more than (AED bn) 7.9 123.6 offset 5% growth in RWAs 9.1 • Credit RWA increase from strong Retail and Corporate loan growth 7.1 106.6 101.3
Slide 12: Divisional Performance
12 Divisional Performance Operating Segment Metrics Q1-25 Q1-24 %∆ YoY Retail Banking and Wealth Management continued its excellent performance in Q1-25, with its Income (mn) 4,692 4,428 6% highest ever revenue, strong loan acquisition and record growth in CASA – AED 20 bn of new loan origination in
Slide 13: Appendix
13 Appendix
Slide 14: Financial Results Q1-25
14 Financial Results Q1-25 Excluding DenizBank Income Statement Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ ( AED bn) Net interest income 8.5 7.4 14% 8.6 (1)% 6.3 6.3 (1)% 6.3 - 2.2 1.1 96% 2.3 (5)% Non-funded income 3.4 3.3 5% 2.7 27% 2.5 2.1 20%
Slide 15: US $ convenience translation
15 US $ convenience translation Excluding DenizBank Income Statement Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ Q1-25 Q1-24 %∆ YoY Q4-24 %∆ QoQ (USD bn) Net interest income 2.3 2.0 14% 2.3 (1)% 1.7 1.7 (1)% 1.7 - 0.6 0.3 96% 0.6 (5)% Non-funded income 0.9 0.9 5% 0.7 27% 0.7 0.6
Slide 16: DenizBank Profitability Progression
16 Hyperinflation 250% 38% DenizBank Profitability Progression 72% 0.8 (0.2) 2,955 2,685 2,526 2,319 0.6 0.6 2,139 1,859 1,691 1,352 1,270 1,047 1,128 978 (0.7) 844 (0.0) (0.3) 0.2 Dec-24 Dec-22 Dec-23 Jun-23 Jun-24 Mar-22 Jun-22 Sep-24 Sep-22 Mar-23 Sep-23 Mar-24 Mar-25 Profit before tax Income Exp
Slide 17: Thank You
Thank You For additional information: IR@emiratesnbd.com www.emiratesnbd.com/en/investor-relations