Emirates Nbd Bank (p.j.s.c) · DFM:EMIRATESNBD
Emirates Nbd Bank (p.j.s.c) — Emirates NBD — Q1 2025 Earnings Presentation
39 slides from Emirates Nbd Bank (p.j.s.c)'s earnings presentation, June 2025
Slide 1: Investor Presentation
Investor Presentation June 2025 AED USD
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: Economic Environment
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Slide 4: UAE GDP growth of 5% expected in 2025
4 UAE GDP growth of 5% expected in 2025 UAE GDP Growth (%) Budget Surplus • Population growth projected at 5.8mn by 2040 7.9 5.0 • Government projected surplus of 4% of GDP in 2025 on AED 97.7bn 4.4 3.7 revenue 3.6 1.1 • Budget 86.3bn for 2025 ▪ 46% Infrastructure ▪ 30% Social Development, Health Se
Slide 5: Dubai: Transaction activity moderates in Q1
5 Dubai: Transaction activity moderates in Q1 Dubai Property Prices Growth Dubai apartments Dubai villas Real estate Transactions 30 25 % Y/Y sales price 20 15 10 5 0 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Projected Net Inflows of Millionaires in 2
Slide 6: Emirates NBD Profile
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Slide 7: Emirates NBD is a Leading Bank in the MENAT Region
7 Emirates NBD is a Leading Bank in the MENAT Region Region’s most AED AED profitable bank 4th 2nd 20.55 130bn Largest Bank in GCC Largest Bank in UAE US$ 1.7bn By Assets By Assets Share Price Market Cap Q1-25 As of 30 Apr 2025 As of 30 Apr 2025 AED AED AED AED AED AED 11.9bn 7.8bn 6.2bn 1,031bn 698
Slide 8: Emirates NBD at a glance
8 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 625 Türkiye network of 839 branches throughout the MENAT region with a branch & r
Slide 9: Strong Credit Ratings Reflecting Financial Stability
9 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
10 Stable Shareholder Base and Diversified Business Model Split of Ownership – Anchored by the Government of Dubai Key Highlights Ownership structure as of 31 March 2025 • A flagship bank for the Government of Dubai and the UAE • Strong and supportive shareholder base from the Government of Dubai vi
Slide 11: Investment Case
11 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
12 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 Q1 2025 As of 31 Mar 2025 NPL% As of 31 Mar 2025 3,233 1,693 364 158 3.1 16.3 2,980 1,596 356 153 0.7 15.8 2,564 1,575 312 150 2.2
Slide 13: Impressive profit growth with strong return on equity
13 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.
Slide 14: Financial & Operating Performance
Financial & Operating Performance
Slide 15: Executive Summary Q1-25 Results
15 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%
Slide 16: AED 7.8 bn Profit before tax rises 56% q-o-q and 2% y-o-y
16 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 17: NIM tracking towards guidance range, CASA growth helping absorb impact of lower interest rates
17 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
Slide 18: Strong client flows driving non-funded income growth
18 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 Wealt
Slide 19: Loan and deposit growth momentum continues
19 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 – Co
Slide 20: Credit quality continues to improve
20 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 ra
Slide 21: Cost to Income ratio within guidance
Cost to Income ratio within guidance as spend delivers strong 21 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 & internation
Slide 22: Funding & liquidity remains very healthy
22 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 23: Common Equity Tier 1 ratio strong at 14.7% supporting asset growth
23 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) offset 5% growth in RWAs • Credit RWA increase from strong Retail and Corporate loan growth • Capital ratios well above 1
Slide 24: Divisional Performance
24 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 25: ESG
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Slide 26: Emirates NBD: A Leading Bank in ESG
26 Emirates NBD: A Leading Bank in ESG Emirates NBD ESG Objectives USD 15.56 billion already mobilised toward its Launch of the Bank's first Sustainable Fixed USD 30 billion 2030 sustainable finance Term Deposit in line with the Bank's target. Sustainable Finance Framework Sustainable and Transition
Slide 27: ESG Forward Journey
27 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 • Release o
Slide 28: Emirates NBD Sustainability Strategy
28 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 Sustainability Governance • Emirates NBD’s sustainabil
Slide 29: Environmental, Social and Governance Commitment
29 Environmental, Social and Governance Commitment ESG is embedded into the culture, operations and strategy of Emirates NBD. Our ESG commitment are integrated to all our business divisions and across all our subsidiaries, with qualitative and qualitative targets as highlighted below. Environmental
Slide 30: Sustainable Finance Framework
30 Sustainable Finance Framework The Framework allows Emirates NBD to issue Green, Social and/or Sustainability debt instruments including Sharia’h compliant financing or investments. Debt instruments issued under the Framework are fully aligned with the four key pillars of the ICMA Green Bond Princ
Slide 31: Sustainability-Linked Loan (SLL) Financing Bond Framework
31 Sustainability-Linked Loan (SLL) Financing Bond Framework Key Highlights and Rationale Framework Overview 1st SLL Financing Bond Framework globally fully aligned with The Framework finance and refinances General Corporate the Sustainability-Linked Loans Financing Bond Guidelines C Purpose SLLs. T
Slide 32: Sustainability-Linked Loan (SLL) Financing Bond Framework
32 Sustainability-Linked Loan (SLL) Financing Bond Framework Summary Project Evaluation Management of Proceeds Reporting • Emirates NBD’s Sustainable Finance • Proceeds will be managed by Emirates NBD in • Allocation report and an impact report will be Forum (SFF) will be responsible for a portfolio
Slide 33: Appendix
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Slide 34: Financial Results Q1-25
34 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 35: US $ convenience translation
35 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 36: DenizBank Profitability Progression
36 Hyperinflation 250% 38% DenizBank Profitability Progression 72% 2,955 2,685 2,526 2,319 2,139 1,859 1,691 1,352 1,270 1,047 1,128 978 844 Dec-23 Dec-22 Dec-24 Jun-22 Mar-23 Jun-23 Sep-23 Mar-24 Jun-24 Mar-25 Mar-22 Sep-22 Sep-24 • Turkish CPI grew by 38% over the preceding 12 months and by 250% o
Slide 37: Our Digital Transformation Journey
37 Our Digital Transformation Journey From 2023 to 2024 15x digital wealth AUM at EI 9.0x digital wealth transaction volume on ENBD X 7.3x transactions on mobile app ENBD X 6.7x personal loans volume sourced on ENBD Tablet X 2.4x accounts sourced digitally in KSA 2.4x faster cash withdrawals on ENBD
Slide 38: Our Digital Transformation Journey
38 Our Digital Transformation Journey Mobile App Users and Digital Adoption (M) Monthly transactions on digital channels (M) Adoption 89% 91% 14 72% 58% 11 56% 54% 1.3 1.4 0.8 5 6 0.6 5 5 0.5 0.5 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Credit Cards Sourced through Tablet X No. of
Slide 39: Thank You
Thank You For additional information: IR@emiratesnbd.com www.emiratesnbd.com/en/investor-relations