Emirates Nbd Bank (p.j.s.c) · DFM:EMIRATESNBD
Emirates Nbd Bank (p.j.s.c) — Emirates NBD — Q3 2024 Earnings Presentation
17 slides from Emirates Nbd Bank (p.j.s.c)'s earnings presentation, Oct 17, 2024
Slide 1: Results Presentation Q3 2024
Results Presentation Q3 2024 17 October 2024
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 9M'24 Results Key Metrics and Guidance
Executive Summary 9M’24 Results Key Metrics and Guidance Record AED 19.0 bn Healthy net-interest Profit Income NIM profit in 9M’24 on income growth on higher net interest strong loan & deposit income & strong mix propelled by AED 19.0 bn AED 32.9 bn 3.64% recoveries increased regional +9% y-o-y +0.5
Slide 4: AED 19 bn record profit in 9M'24 rises 9% y-o-y
AED 19 bn record profit in 9M’24 rises 9% y-o-y on diversified net interest income growth and healthy recoveries Income Statement (All figures are in AED bn) 9M’24 9M’23 %∆ YoY Q3-24 %∆ YoY %∆ QoQ Key Highlights Net interest income 23.8 22.3 7% 8.5 8% 7% • Profit up 9% y-o-y to a record AED 19bn on
Slide 5: NIMs improving as DenizBank margin benefiting from loan repricing
NIMs improving as DenizBank margin benefiting from loan repricing and stabilisation in funding costs Net Interest Margin (%) Key Highlights Quarterly NIM 4.08 3.95 • Q3-24 NIM up 10bps q-o-q to 3.75% as DenizBank NIMs increased on improved YTD NIM 3.75 loan pricing and stable funding costs 3.65 4.00
Slide 6: Strong client flows driving fee & commission income growth
Strong client flows driving fee & commission income growth Non-funded income 9M'24 9M'23 %∆ YoY Q3-24 Q3-23 %∆ YoY %∆ QoQ Key Highlights (AED m) • Healthy trend in Net Fee and Commission Income, up 46% y-o-y from record Fee and Commission income 9,784 6,403 53% 3,525 2,394 47% 8% increase in local &
Slide 7: Loan and deposit growth momentum continues
Loan and deposit growth momentum continues Gross Loans by Type Key Highlights (AED bn) 9% • Loans up 9% by AED 44bn in 9M’24 on very strong underlying growth – Record retail lending up 23% in 9M’24 with healthy demand across all products 494 492 508 525 – Corporate lending up 10% in 9M’24, with AED
Slide 8: Credit quality continues to significantly improve
Credit quality continues to significantly improve Impaired loans and allowances Key Highlights NPLs 5.5% 4.6% 4.4% 4.2% 3.9% 100% • NPL ratio improved by 0.7% to 3.9% in 9M’24 on strong writebacks, recoveries, write-offs and repayments Coverage 60.0 145% 163% 153% 145% 149% 99% • Stage 2 loans reduc
Slide 9: Costs firmly controlled with focus on future growth
Costs firmly controlled with focus on future growth Cost to Income Ratio (%) Key Highlights 33.0% • Cost to Income ratio at 29.4% for 9M’24, comfortably within guidance, with 30.9% continued investment for growth supported by income 32.4% 28.6% • Cost to Income ratio rose to 30.9% in Q3-24 on higher
Slide 10: Funding & liquidity remains very healthy
Funding & liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) Key Highlights 90 ADR % LCR % 240 • LCR of 194% and ADR of 77% demonstrate healthy liquidity 210 • Liquid assets* of AED 101 bn cover 12% of total liabilities, 16% of deposits 85 199 • AED 23 bn of term deb
Slide 11: Total Capital ratio strong at 18.0%
Total Capital ratio strong at 18.0% Capital Key Highlights (AED bn) • 15.5% CET-1 ratio strengthened in 9M’24 as retained earnings more than offset 15% growth in RWAs • Credit RWA increase from strong Retail and Corporate loan growth • CET-1 at 15.4% excluding ECL regulatory add back • Capital ratio
Slide 12: Divisional Performance
Divisional Performance Key Highlights Operating Segment Metrics 9M'24 9M'23 %∆ YoY Retail Banking and Wealth Management continued its excellent performance with its highest ever Income (mn) 13,428 12,057 11% nine-month revenue, strongest ever acquisition of loans, and substantial growth in balance s
Slide 13: Appendix
Appendix es MMI ae (; gnibgll cs Silo Ul iy Emirates NBD
Slide 14: Financial Results Highlights 9M'24
Financial Results Highlights 9M’24 Excluding DenizBank Income Statement 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ (All figures are in AED bn) Net interest income 23.8 22.3 7% 8.5 7% 19.0 18.0 6% 6.3 (1)% 4.8 4.3 12% 2.1 37% Non-funded income 9.0
Slide 15: US$ convenience translation
US$ convenience translation Excluding DenizBank Income Statement 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ 9M’24 9M’23 %∆ YoY Q3-24 %∆ QoQ (All figures are in USD bn) Net interest income 6.5 6.1 7% 2.3 7% 5.2 4.9 6% 1.7 (1)% 1.3 1.2 12% 0.6 37% Non-funded income 2.5 2.8 (13)% 0
Slide 16: Hyperinflation
Hyperinflation 343% 49% Key Highlights 2,526 2,319 2,139 1,859 1,691 1,352 1,270 1,128 1,047 978 844 687 571 Sep-23 Sep-21 Jun-22 Sep-22 Sep-24 Jun-23 Jun-24 Mar-22 Mar-23 Mar-24 Dec-21 Dec-22 Dec-23 • Turkish CPI grew by 49% in the preceding 12 months and by 343% over preceding three-years • 35 bps
Slide 17: For additional information
For additional information: IR@emiratesnbd.com www.emiratesnbd.com/en/investor-relations