Q2-18 Financial Results Highlights
Appendix
Strategy
Q2-18 Financial Results Highlights
Key Performance Indicators
Financial & Operating Performance
Emirates NBD Profile
Operating Environment
Highlights
•
.
Net profit of AED 2,631 Mn for Q2-18 increased
30% y-o-y and 10% q-o-q
Net interest income improved 20% y-o-y and 9%
q-o-q on loan growth coupled with an improvement
in margins
Non-interest income declined 3% y-o-y and 1%
q-o-q due to lower income from investment
securities
Costs increased 21% y-o-y and 7% q-o-q due to
higher staff and IT costs relating to our digital
transformation and technology refresh. Costs were
also higher as a result of international branch
expansion
Provisions of AED 315 Mn improved 49% y-o-y and
29% q-o-q on a lower cost of risk whilst coverage
ratio strengthened to 128.4%
NPL ratio stable at 6.0%
LCR of 158.7% and AD ratio of 94.4%
demonstrates the Group's healthy liquidity position
NIMS improved 33 bps y-o-y and 14 bps q-o-q to
2.82% as rate rises flowed through to loan book
which more than offset a rise in deposit costs on a
modest change in deposit mix
Emirates NBD
AED Mn
Q2-18
Q2-17
Better/
(Worse)
Q1-18
Better /
(Worse)
Net interest income
Non-interest income
Total income
Operating expenses
3,245
2,699
20%
2,984
9%
1,103
1,137
(3%)
1,119
(1%)
4,348
3,836
13%
4,103
6%
(1,370) (1,136)
(21%)
(1,276) (7%)
Pre-impairment
2,977
2,699
10%
2,828
5%
operating profit
Impairment allowances
(315)
(621)
49%
(440)
29%
Operating profit
2,663
2,078
28%
2,388
12%
Share of profits from
18
(26)
170%
31
(41%)
associates
Taxation charge
(50)
(31)
(60%)
(32)
(55%)
Net profit
2,631
2,021
30%
2,386
10%
Cost: income ratio (%)
Net interest margin (%)
31.5%
2.82%
29.6%
2.49%
(1.9%) 31.1% (0.4%)
0.33% 2.68% 0.14%
AED Bn
30-Jun-18 31-Dec-17
%
31-Mar-18 %
Total assets
477.5
470.4
2%
475.6
0%
Loans
316.4
304.1
4%
311.4
2%
Deposits
335.0
326.5
3%
331.9
1%
AD ratio (%)
94.4%
93.1% (1.3%)
93.8%
(0.6%)
NPL ratio (%)
6.0%
6.2%
0.2%
6.0%
0.0%
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