Q3-15 Financial Results Highlights
Appendix
Strategy
Financial & Operating Performance
Emirates NBD Profile
Operating Environment
Q3-15 Financial Results Highlights
Highlights
Net profit of AED 1,673 Mn for Q3-15
improved 7% y-o-y and 2% q-o-q
• Net interest income improved 5% y-o-y
and 4% q-o-q as loan growth largely
offset a contraction in margins
• Non-interest income declined 27% y-o-y
and 17% q-o-q due to lower gains from
the sale of investments and properties on
reduced volumes and lower income from
foreign exchange and derivatives due to
seasonal effect
• Costs declined 3% q-o-q and increased
5% y-o-y due to staff costs linked with
changing business volumes
• Provisions of AED 821 Mn improved 33%
y-o-y and 9% q-o-q as cost of risk
improved for the 5th consecutive quarter
• AD ratio of 97.2% within management
range demonstrates strong bank liquidity
particularly during a challenging quarter
for regional liquidity in the banking sector
NPL ratio improved to 7.1% and coverage
ratio strengthened to 115.3%
• NIMS declined marginally by 1bp to 2.75%
as both loan and deposit rates held
steady against a 5bp increase in average
EIBOR rates and wholesale funding rates
improved relative to EIBOR
Individual figures may not add up to total due to rounding.
Key Performance Indicators
AED Mn
Q3-15
Q3-14
Better/
(Worse)
Better /
Q2-15
(Worse)
Net interest income
2,591
2,465
5%
2,497
4%
Non-interest income
1,009
1,380 (27%)
1,213
(17%)
Total income
3,600
3,845
(6%)
3,710
(3%)
Operating expenses
(1,126)
(1,075)
(5%)
(1,157)
3%
Pre-impairment
2,474
2,770
(11%)
2,553
(3%)
operating profit
Impairment allowances
(822)
(1,219)
33%
(901)
9%
Operating profit
1,652
1,552
6%
1,652
0%
Share of profits from
39
38
3%
39
0%
associates
Taxation charge
(18)
(27)
33%
(45)
60%
Net profit
1,673
1,563
7%
1,646
2%
Cost: income ratio (%)
Net interest margin (%)
31.3%
2.75%
27.9% (3.4%)
2.95%
31.2%
(0.1%)
(0.20%) 2.76% (0.01%)
AED Bn
30-Sep-15 31-Dec-14
%
30-Jun-15 %
Total assets
390.4
363.0
8%
388.1
1%
Loans
Deposits
261.6
246.0
6%
256.2
2%
269.3
258.3
4%
274.4
(2%)
AD ratio (%)
97.2%
95.2%
(2.0%)
93.3%
(3.9%)
NPL ratio (%)
7.1%
7.9%
0.8%
7.4%
0.3%
14
Emirates NBDView entire presentation