39 slides from Emirates Nbd Bank (p.j.s.c)'s earnings presentation, February 2026
Slide 1: Investor Presentation February 2026
Investor Presentation February 2026
Slide 2: Important Information
1 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: Economic Environment
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Slide 4: UAE's well diversified GDP projected to grow at healthy rate
3 UAE’s well diversified GDP projected to grow at healthy rate… UAE GDP growth (%) Share of GDP key contributors (%) 7.5 Oil 23% Trade 24% 5.4 Real estate 15% Real estate 15% 4.6 4.3 5.0 4.0 4.1 Trade 12% Others 15% Manufacturing 10% UAE Financial services 13% Dubai Financial services 11% YTD Jun’25
Slide 5: Key drivers delivering robust growth momentum
4 …with key drivers delivering robust growth momentum Dubai population growth Dubai tourism Estimated net inflows of millionaires in 2025 (millions of visitors) (thousands) Millionaires: Individuals with high liquid investable wealth of USD +1 million 28.6% % 5.0 8 18.72 17.55 9.8 7 17.15 7.5 4.0 6
Slide 6: Emirates NBD Profile
Emirates NBD Profile
Slide 7: Emirates NBD is a leading bank in the MENAT region
6 Emirates NBD is a leading bank in the MENAT region UAE’s most AED AED profitable bank 4th 2nd 27.85 176bn Largest bank in GCC Largest bank in UAE USD 6.5bn by assets by assets Share price Market Cap 2025 As of 31 Dec 2025 As of 31 Dec 2025 AED AED AED AED AED AED 49.3bn 29.8bn 24.0bn 1,164bn 786bn
Slide 8: Emirates NBD at a glance
7 Emirates NBD at a glance Key highlights Emirates NBD’s international presence 1. Largest financial institution in Dubai, one of the largest and most profitable in GCC 2. Leading retail banking franchise with a branch 575 Türkiye network of 787 branches throughout the MENAT region with a branch & r
Slide 9: Strong credit ratings reflecting financial stability
8 Strong credit ratings reflecting financial stability Strong credit ratings A+/A1 Short-term Long-term Outlook Moody’s P-1 A1 Stable A/A2 Fitch F1 A+ Stable A-/A3 CI A1 A+ Stable BBB+/Baa1 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Outlook: Moodys Fitch CI Negative Stable Positive • Str
Slide 10: Stable shareholder base and diversified business model
9 Stable shareholder base and diversified business model Split of ownership – anchored by the Government of Dubai Key highlights Ownership structure as of 31 December 2025 • A flagship bank for the Government of Dubai and the UAE • Strong and supportive shareholder base from the Government of Dubai
Slide 11: Investment case
10 Investment case Emirates NBD is committed to delivering long-term growth and creating value for its stakeholders through innovation, operational excellence, and strategic expansion. By consistently enhancing its financial performance and capitalizing on opportunities in key markets, the Group is
Slide 12: Emirates NBD is the most profitable bank in the region
11 Emirates NBD is the most profitable bank in the region Total income Net profit Total assets Coverage ratio & NPLs (%) CET-1 ratio (%) In USD mn 11 In USD mn In USD bn FY 2025 As of 31 Dec 2025 NPL% As of 31 Dec 2025 13,429 6,670 382 146 1.8 17.7 12,298 6,611 382 160 2.4 16.6 10,452 6,530 323 153
Slide 13: Sustained profit growth while delivering strong return profile
12 Sustained profit growth while delivering strong return profile Return on Tangible Equity 20% 18% 19% 20% *17% 10% 13% 17% 24% 22% 19% Net Profit CAGR (2015-2025): 13% Total Income CAGR (2015-2025): 12% ROTE 10-year average : 18% 49.3 43.0 44.1 32.5 23.2 23.8 23.0 24.0 22.4 21.5 17.4 15.2 14.7 15.
Slide 14: Financial & Operating Performance
Financial & Operating Performance
Slide 15: Executive summary FY'25 Results
14 Executive summary FY’25 Results Key metrics and guidance AED 34.3bn operating 12% higher income yoy profit driven by double Income Profit propelled by record loan Profit growth, resilient margins digit income growth with before tax positive jaws and strong non-funded income 49.3bn 29.8bn 24.0bn +
Slide 16: Record AED 29.8bn profit before tax, up 10% yoy
15 Record AED 29.8bn profit before tax, up 10% yoy, driven by record balance sheet growth and resilient margins Income statement FY’25 FY’24 %∆ YoY Q4-25 %∆ YoY (AED bn) • Income grew by 12% yoy to AED 49.3bn driven by Net interest income 35.5 32.4 10% 9.7 13% o NII up 10% to AED 35.5bn, fueled by r
Slide 17: Margins remain strong supported by improving margins in Türkiye
16 Margins remain strong supported by improving margins in Türkiye Net interest margin (%) • FY’25 NIM of 3.46% within guidance Quarterly NIM • Q4-25 NIM up 15bps to 3.52% supported by improving margins in Türkiye due Ytd NIM 3.65% 3.58% to rate cuts lowering funding costs, offsetting FED rate cuts
Slide 18: Strong asset growth driving non-funded income growth
17 Strong asset growth driving non-funded income growth Non-funded income • Strong broad-based non-funded income, up AED 2.1 billion (18%) in FY’25 FY’25 FY’24 %∆YoY Q4-25 Q4-24 %∆YoY %∆QoQ (AED m) driven by strong growth across all segments and geographies Fee and commission income 15,738 13,347 18
Slide 19: Well diversified record loan growth supported by strong deposit growth
18 Well diversified record loan growth supported by strong deposit growth Gross loans by type • Loans up 24% by AED 129 bn in FY’25 on very strong underlying growth (AED bn) 24% – Retail lending up AED 36bn (25%) in FY’25 across all products and geographies 658 – C&IB lending up AED 100bn (42%) in F
Slide 20: Robust credit quality with solid coverage ratios
19 Robust credit quality with solid coverage ratios Impaired loans and allowances • NPL ratio improved to 2.4% in FY’25, well within guidance of < 3% NPLs 3.3% 3.1% 2.8% 2.5% • 24 bps cost of risk in FY’25, well within guidance of 20-40bps. 2025 continued to 2.4% 100%witness strong recoveries, offse
Slide 21: Cost to income ratio well within guidance
Cost to income ratio well within guidance as spend delivers strong 20 business growth and digital & international investment continues Cost to income ratio (%) • Cost to income ratio at 30.5% for FY’25 comfortably within the guidance of 36.4% ≤33% • Spending on strategic initiatives like digital & i
Slide 22: Funding & liquidity remains very healthy
21 Funding & liquidity remains very healthy Advances to deposit and liquidity coverage ratio (%) • LCR of 152% and ADR of 81% demonstrating healthy liquidity 90 ADR % LCR % • Liquid assets* of AED 125bn cover 12% of total liabilities, 16% of deposits 220 197 184 185 • ENBD issued over AED 33.4bn of
Slide 23: Healthy CET-1 ratio at 14.4%
22 Healthy Common Equity Tier 1 (CET-1) ratio at 14.4% supporting strong asset growth momentum Capital progression • 14.4% CET-1 ratio remains very strong as retained earnings offset 20% growth in (AED bn) 9.0 137.1 RWAs and 100fils proposed dividend 25.6 9.1 119.0 • Credit RWA increase driven by re
Slide 24: Divisional performance
23 Divisional performance Operating Segment Metrics FY'25 FY'24 %∆ YoY Retail Banking and Wealth Management delivered a record-breaking performance in 2025, with Income 19,749 17,767 11% highest ever revenue, strongest-ever acquisition of loans and record CASA growth Expense 5,785 5,306 9% – Highest
Slide 25: ESG
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Slide 26: Emirates NBD: a leading bank in ESG
25 Emirates NBD: a leading bank in ESG USD 26.1 billion already mobilised toward its Continued promoting the bank’s sustainable USD 30 billion 2030 sustainable finance fixed term deposit in line with the sustainable target achieving more than 87% of the target Emirates NBD finance framework Publishe
Slide 27: ESG forward journey
26 ESG forward journey Emirates NBD’s ESG commitment over the years have enhanced, covering larger and wider aspects of ESG principles. Our journey has been fruitful, and we expect further development in the upcoming years given the plan to standardize the ESG practices and contributions • Net Zero
Slide 28: Emirates NBD sustainability strategy
27 Emirates NBD sustainability strategy Emirates NBD commits to both regional and international sustainability development goals which enhances the overall agenda for sustainable business strategy and management approach Sustainability approach and frameworks • Emirates NBD’s sustainability strategy
Slide 29: Digital Transformation
Digital Transformation
Slide 30: Our digital transformation continued to deliver a multiplier impact on sales in 2025
29 Our digital transformation continued to deliver a multiplier impact on sales in 2025 ENBD X Digital Wealth Tablet X Liv 4X 2X 3X 3X 4X 4X 14X 25X 2X accounts FX sales of digital trading accounts credit cards PL volume credit card opened transactions credit card wealth AUM volume sourced sourced d
Slide 31: Usage and activity across our digital channels has been consistently growing
30 Usage and activity across our digital channels has been consistently growing for the last five years Mobile app users Monthly transactions on digital channels* (M) (M) 1.9 18 1.5 14 1.3 11 0.8 0.6 5 6 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Credit cards sourced through Tablet X No. of s
Slide 32: Appendix
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Slide 33: Financial results FY'25
32 Financial results FY’25 Excluding DenizBank Income statement FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ ( AED bn) Net interest income 35.5 32.4 10% 9.7 8% 25.6 25.3 1% 6.6 2% 9.9 7.1 39% 3.1 24% Non-funded income 13.8 11.7 18% 2.9 (22)% 9.9 7.8
Slide 34: US $ convenience translation
33 US $ convenience translation Excluding DenizBank Income statement FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ FY’25 FY’24 %∆ YoY Q4-25 %∆ QoQ ( USD bn) Net interest income 9.7 8.8 10% 2.6 8% 7.0 6.9 1% 1.8 2% 2.7 1.9 39% 0.8 24% Non-funded income 3.8 3.2 18% 0.8 (22)% 2.7 2.1
Slide 35: DenizBank profitability walk
34 Hyperinflation 211% 31% DenizBank profitability walk 2.8 72% (0.5) 0.2 3.3 2.9 3,514 3,367 (2.0) 3,132 2,955 2,685 2,526 2,319 2,139 1,859 1,691 1.5 1,352 1,270 1,128 (1.8) Dec-24 Dec-22 Dec-23 Dec-25 Jun-23 Jun-24 Jun-25 Sep-24 Sep-25 Mar-23 Sep-23 Mar-24 Mar-25 Profit before tax Income Expenses
Slide 36: Türkiye's return to orthodox policy supports disinflation
Türkiye’s return to orthodox policy supports disinflation and 35 market confidence Inflation rate vs CB policy rate (%) GDP growth (%) Türkiye's central bank’s tight monetary policy has begun to reign in inflation rate Türkiye’s tight monetary policy has muted GDP growth 80 Inflation Rate CB Policy
Slide 37: Egypt's macroeconomic outlook continues to improve
Egypt’s macroeconomic outlook continues to improve with 36 external support Inflation rate vs CB policy rate (%) GDP growth (%) Slowing inflation has given the Central Bank of Egypt ample room to ease Growth is strengthening once more as policy reforms start to bear fruit monetary policy Inflation R
Slide 38: KSA, resilient growth anchored in diversification
37 KSA, resilient growth anchored in diversification Inflation rate vs CB policy rate (%) GDP growth (%) Government subsidies, strong price controls & increased interest rates have kept inflation Ongoing growth in GDP, with continued contribution from non-oil sector low Inflation Rate CB policy Rate
Slide 39: Thank You
Thank You For additional information: IR@emiratesnbd.com www.emiratesnbd.com/en/investor-relations