Emirates Nbd Bank (p.j.s.c) · DFM:EMIRATESNBD
Emirates Nbd Bank (p.j.s.c) — Emirates NBD — Q1 2024 Earnings Presentation
17 slides from Emirates Nbd Bank (p.j.s.c)'s earnings presentation, Apr 25, 2024
Slide 1: Results Presentation Q1 2024
Results Presentation| Q1 2024 25 April 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 Q1 2024 Results Key Metrics and Guidance
Executive Summary Q1 2024 Results Key Metrics and Guidance Record AED 6.7 bn Healthy income Profit Income NIM profit in Q1-24 on growth on strong higher income & loan & deposit AED 6.7 bn AED 10.7 bn 3.52% strong recoveries mix propelled by Guidance revised to increased regional +67% q-o-q +3% q-o-q
Slide 4: AED 6.7 bn record Q1 profit rises 67% q-o-q and 12% y-o-y
AED 6.7 bn record Q1 profit rises 67% q-o-q and 12% y-o-y on diversified income growth and healthy recoveries Income Statement (All figures are in AED bn) Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ Key Highlights Net interest income 7.4 7.2 3% 7.8 (5)% Non-funded income 3.3 3.3 (1)% 2.5 30% • Group profit up 6
Slide 5: NIMs: CASA growth and favourable loan mix helping offset higher rates
NIMs: CASA growth and favourable loan mix helping offset impact of higher interest rates in Türkiye Net Interest Margin (%) Key Highlights Quarterly NIM • Q1-24 NIM down 53 bps y-o-y due to higher funding costs and competitive loan 4.05 4.08 4.05 YTD NIM 3.96 pricing at ENBD and lower margins at Den
Slide 6: Strong client flows driving fee & commission income growth
Strong client flows driving fee & commission income growth Key Highlights Non-funded income Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ (All figures are in AED m) • Total non-funded income flat y-o-y as higher fee and commission income offset Fee and Commission income 2,986 2,016 48% 2,561 17% by lower other op
Slide 7: Business loan and deposit growth momentum continues
Business loan and deposit growth momentum continues Gross Loans by Type Key Highlights (AED bn) 2% • Loans up 2.3% in Q1-24 on very strong underlying growth – Record retail lending up 8% q-o-q with healthy demand across all products 470 479 494 481 492 – Corporate lending up 3% q-o-q on strong origi
Slide 8: Credit quality continues to significantly improve
Credit quality continues to significantly improve Impaired loans and allowances Key Highlights NPLs 5.6% 5.6% 5.5% 4.6% 4.4% 100% • NPL ratio improved by 0.2% to 4.4% in Q1-24 on strong writebacks, recoveries, write-offs and repayments Coverage 60.0 152% 147% 145% 163% 153% 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 28.8% for Q1-24, comfortably within guidance, with continued investment for growth supported by income 32.4% 28.8% • Staff costs increased to deliver strong business growth and
Slide 10: Funding & liquidity remains very healthy
Funding & liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) Key Highlights 90 ADR % LCR % • LCR of 186% and ADR of 75% demonstrate healthy liquidity 240 217 • Liquid assets* of AED 101 bn cover 13% of total liabilities, 17% of deposits 210 85 • AED 13 bn of term deb
Slide 11: Total Capital ratio strong at 17.8%
Total Capital ratio strong at 17.8% Capital Key Highlights (AED bn) • 15.2% CET-1 ratio strengthened in Q1-24 as retained earnings more than offset 2% growth in RWAs • Credit RWA increase from strong Retail and Corporate loan growth • CET-1 at 15.0% excluding ECL regulatory add back • Capital ratios
Slide 12: Divisional Performance
Divisional Performance Key Highlights Operating Segment Metrics Q1-24 Q1-23 %∆ YoY Retail Banking and Wealth Management (RBWM) had an excellent first quarter with the highest ever revenue, Income (mn) 4,428 3,855 15% strongest ever loan acquisition and a substantial growth in balance sheet Expense (
Slide 13: Appendix
Appendix es MMI ae (; gnibgll cs Silo Ul iy Emirates NBD
Slide 14: Financial Results Highlights Q1-24
Financial Results Highlights Q1-24 Excluding DenizBank Income Statement Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ (All figures are in AED bn) Net interest income 7.4 7.2 3% 7.8 (5)% 6.3 5.8 8% 6.1 2% 1.1 1.4 (17)% 1.7 (33)% Non-funded income 3.3
Slide 15: US$ convenience translation
US$ convenience translation Excluding DenizBank Income Statement Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ Q1-24 Q1-23 %∆ YoY Q4-23 %∆ QoQ (All figures are in AED bn) Net interest income 2.0 2.0 3% 2.1 (5)% 1.7 1.6 8% 1.7 2% 0.3 0.4 (17)% 0.5 (33)% Non-funded income 0.9 0.9 (1)
Slide 16: Hyperinflation
Hyperinflation 309% 68% Key Highlights 143% 2,139 1,859 1,691 1,352 1,270 1,128 1,047 978 844 687 571 547 524 Sep-21 Sep-22 Sep-23 Mar-23 Jun-21 Jun-22 Jun-23 Mar-21 Dec-21 Mar-22 Mar-24 Dec-22 Dec-23 • Turkish CPI grew by 309% over preceding three-years and by 68% in the preceding 12 months • 23 bp
Slide 17: nibgll cys silo cLis
nibgll cys silo cLis Emirates NBD