Tanfeeth Overview
Financial Highlights
Q3 2012 YTD
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Q3 2012 YTD Financial Results Highlights
Net profit of AED 1929 million, -17% vs. Q3 2011 YTD
Net interest income down 3% y-o-y to AED 5146 million due to a net
interest margin drop by 21 bps to 2.42% in Q3 2012 YTD from 2.63% in Q3
2011 YTD
Non-interest income grew by 21% y-o-y; core fee income grew 5% y-o-y
while investment securities income grew by 172% y-o-y
Costs increased by 9% y-o-y to AED 2711 million in Q3 2012 YTD resulting
primarily from Dubai Bank costs and consultant charges; Cost to Income
Ratio was at 35.2% in Q3 2012 YTD vs. 33.4% in Q3 2011 YTD
Continuation of balance sheet de-risking and conservatism on provisioning
resulted in impairment allowances of AED 3064 million
New underwriting grew with net loans up 5% from end-2011
Deposits increased 11% from end-2011 due to balance sheet optimisation
initiatives; Headline LTD ratio at 99% vs. 105% at end-2011
CAR declined by 0.7% to 19.9% in Q3 2012 YTD from 20.5% during end-
2011; due to amortisation of Tier 2 MoF Deposits
■ Total assets grew by 7% to AED 305.4 billion in Q3 2012 YTD from end-
2011.
Emirates NBD
Key Performance Indicators
Income Statement
Change
Q3 12
Q2 12
Change
Q3 12 YTD | Q3 11 YTD
%
%
AED million
Net interest income
5,146
5,329
-3%
1,730
1,639
+6%
Fee & other income
Total income
Operating expenses
Operating profit before
impairment allowances
Impairment allowances:
Credit
2,560
2,110
+21%
790
859
-8%
7,706
7,439
+4%
2,521
2,499
+1%
(2,711) (2,483)
+9%
(874)
(894)
-2%
4,995
4,956
+1%
1,647
1,605
+3%
(3,064)
(2,953)
(3,921) -22%
(1,009)
(955)
+6%
(3,802)
-22%
(971)
(904)
+7%
Investment securities
(111) (120)
-7%
(38)
(51)
-25%
Operating profit
1,931
1,035
+87%
638
650
-2%
Amortisation of
(60)
(70)
-15%
(20)
(20)
+2%
intangibles
Associates
734
(427)
-117%
27
21
+28%
Gain on subsidiaries
Taxation charge
1,813
-100%
n/a
(16)
(19)
-18%
(5)
(5)
-6%
Net profit
1,929
2,332
-17%
640
647
-1%
Cost to income ratio (%)
35.2%
33.4%
+1.8%
34.7%
35.8%
-1.1%
Net interest margin (%)
2.42%
2.63% -0.21%
2.35%
2.28%
+0.07%
EPS (AED)
0.31
0.38
-19%
0.10
0.10
-1%
ROE (%)
10.0%
12.7%
-2.7%
9.9%
10.3%
-0.4%
ROA (%)
0.9%
1.1%
-0.2%
0.8%
0.9%
-0.0%
Balance Sheet
Change
30-Sep-12
31-Dec-11
30-Jun-12
Change
AED billion
%
%
Total assets
305.4
284.6
+7%
298.4
+2%
Loans
212.5
203.1
+5%
208.2
+2%
Deposits
214.2
193.3
+11%
208.4
+3%
Capital Adequacy Ratio (%)
19.9%
20.5%
-0.7%
19.5%
+0.4%
Tier 1 Ratio (%)
13.2%
13.0%
+0.2%
12.8%
+0.4%
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