Slide 1: Results Presentation Full Year 2024
Results Presentation Full Year 2024 29 January 2025
Slide 2: Important Information
Important Information Disclaimer The material in this presentation is general background information about Emirates NBD's activities current at the date of the presentation. It is that could cause actual results, and the Group’s plans and objectives, information given in summary form and does not pu
Slide 3: Executive Summary 2024 Results Key Metrics and Guidance
Executive Summary 2024 Results Key Metrics and Guidance Record AED 27 bn Healthy net-interest Profit Profit before tax on Profit Income income growth on strong before tax loan growth & strong loan & deposit mix recoveries propelled by increased AED 27.1 bn AED 23.0 bn AED 44.1 bn regional presence +
Slide 4: Impressive profit growth with strong return on equity
Impressive profit growth with strong return on equity Return on Tangible Equity (excluding 2019 NI gain) 16% 20% 18% 19% 20% 17% 10% 13% 17% 24% 22% Net Profit CAGR (2014-2024): 16% Total Income CAGR (2014-2024): 12% ROTE 10-year average : 18% 43.0 44.1 32.5 23.2 23.8 23.0 22.4 21.5 17.4 14.4 15.2 1
Slide 5: Record financial growth and well-positioned for the future
Record financial growth and well-positioned for the future 2024 Key Achievements 2025 Strategic Focus AED 23 bn record profit Six Strategic Pillars Enhance product suite and expand digital platforms to grow wealth management 16% balance sheet growth with market- Deliver an Maintain core market leade
Slide 6: AED 27.1 bn record profit before tax rises 15% y-o-y on balance sheet growth
AED 27.1 bn record profit before tax rises 15% y-o-y on balance sheet growth and healthy recoveries Income Statement FY’24 FY’23 %∆ YoY Q4-24 %∆ YoY %∆ QoQ (All figures are in AED bn) • Profit up 7% y-o-y to a record AED 23 bn on balance sheet growth helped by a wider network and healthy recoveries
Slide 7: 2024 NIM within guidance as rates cuts expected to push 2025 NIM slightly lower
2024 NIM within guidance as rates cuts expected to push 2025 NIM slightly lower Net Interest Margin (%) • FY’24 NIM down 31bps y-o-y to 3.64% on flow through of higher funding costs Quarterly NIM over time due to higher interest rates and competitive loan pricing at ENBD YTD NIM • Q4-24 NIM down 10b
Slide 8: Strong client flows driving fee & commission income growth
Strong client flows driving fee & commission income growth Non-funded income • Healthy trend in Net Fee and Commission Income, up 39% y-o-y from record FY'24 FY'23 %∆ YoY Q4-24 Q4-23 %∆YoY %∆QoQ (AED m) increase in local & international retail card business, highest ever investment banking income, g
Slide 9: Loan and deposit growth momentum continues
Loan and deposit growth momentum continues Gross Loans by Type • Loans up 10% by AED 48bn in 2024 on very strong underlying growth (AED bn) – Record retail lending up 30% with healthy demand across all products 10% – Corporate lending up 9% with AED 88 bn of new origination – KSA delivered 57% loan
Slide 10: Credit quality significantly improved
Credit quality significantly improved Impaired loans and allowances • NPL ratio improved by 1.3% to 3.3% in FY’24 on strong writebacks, recoveries, write-offs and repayments NPLs 4.6% 4.4% 4.2% 3.9% 3.3% 100% • NPLs older than 5-years written off in Q4-24 as per the new UAE credit Coverage 156% 99%
Slide 11: Costs firmly controlled with focus on future growth
Costs firmly controlled with focus on future growth Cost to Income Ratio (%) • Cost to Income ratio at 31.2% for FY’24, comfortably within guidance, with 36.4% continued investment for growth supported by income • Cost to Income ratio rose to 36.4% in Q4-24 on higher staff costs, accelerated depreci
Slide 12: Funding & liquidity remains very healthy
Funding & liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) • LCR of 197% and ADR of 75% demonstrating healthy liquidity 85 240 • Liquid assets* of AED 105 bn cover 12% of total liabilities, 16% of deposits ADR % LCR % 210 • AED 26 bn of term debt and sukuk issued i
Slide 13: Total Capital ratio strong at 17.1%
Total Capital ratio strong at 17.1% Capital Progression • 14.7% CET-1 ratio remains very strong in 2024 as retained earnings more than (AED bn) 7.5 117.9 offset 18% growth in RWAs and 100 fils proposed dividend (0.9%) 24.7 9.1 • Credit RWA increase from strong Retail and Corporate loan growth 101.3
Slide 14: Divisional Performance
Divisional Performance Operating Segment Metrics FY'24 FY'23 %∆ YoY Retail Banking and Wealth Management had an excellent 2024 with its highest ever revenue, Income (mn) 17,767 16,211 10% strongest ever acquisition of loans, and substantial growth in balance sheet – AED 67 bn of new loan origination
Slide 15: Appendix
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Slide 16: Financial Results 2024
Financial Results 2024 Excluding DenizBank Income Statement FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ (All figures are in AED bn) Net interest income 32.4 30.1 8% 8.6 1% 25.3 24.1 5% 6.3 (1)% 7.1 6.0 19% 2.3 9% Non-funded income 11.7 12.9 (9)% 2.
Slide 17: US$ convenience translation
US$ convenience translation Excluding DenizBank Income Statement FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ FY’24 FY’23 %∆ YoY Q4-24 %∆ QoQ (All figures are in USD bn) Net interest income 8.8 8.2 8% 2.3 1% 6.9 6.6 5% 1.7 (1)% 1.9 1.6 19% 0.6 9% Non-funded income 3.2 3.5 (9)% 0.7
Slide 18: DenizBank Profitability Progression
Hyperinflation 291% DenizBank Profitability Progression 44% 72% 3.4 (0.2) 1.1 2.9 (0.8) 2,685 2,526 2,319 (0.5) 2,139 1,859 1.2 1,691 1,352 1,270 1,128 Sep-22 1,047 (1.7) 978 844 Dec-21 687 Sep-23 Sep-24 Jun-22 Jun-23 Jun-24 Mar-22 Mar-23 Mar-24 Dec-22 Dec-23 Dec-24 Profit before tax Income Expenses
Slide 19: For additional information
For additional information: IR@emiratesnbd.com www.emiratesnbd.com/en/investor-relations