Investor Presentaiton
35
REVIEW OF PERFORMANCE
Looking to the Future
with Confidence
Mohammed Bin Rashid Housing Establishment
availing financing from Emirates Islamic.
EI undertook various initiatives to increase
Emirati participation in critical roles within the
organisation, as part of its support to CBUAE's
Emiratisation policy. The Bank has one of the
highest Emiratisation levels in the UAE banking
sector, at 38% of total employees, and at 34%
in terms of critical positions held by UAE
Nationals. EI maintained its momentum in
learning and development initiatives for UAE
National talent, namely The National Achievers
Strategic Academy, Integrated Learning
Journey, Future Proof Banker and Leadership in
Action programmes. In 2022, its National
Leadership Programme continued to train
WELLON
BVI HELLOS
BAY HELLOW
Emirati employees for Executive Committee
and Unit Head roles.
Fitch Ratings has affirmed EI's Long-Term
Issuer Default Rating of 'A+' with a Stable
Outlook, Short-Term IDR (ST IDR) of 'F1', with
an upgrade of Viability Rating from 'bb-' to 'bb'.
DenizBank
DenizBank contributed a total income of
AED 10.6 billion and a net profit of AED 1.6 billion
to Emirates NBD Group in 2022. It posted
total assets of AED 124 billion, net loans of
AED 66 billion and deposits of AED 82 billion at
the end of 2022.
Emirates NBD Group and BNY Mellon announce strategic alliance to accelerate growth of
UAE capital markets
In 2022, while many economies were returning
to a 'new normal' and learning to live with
the pandemic, global inflation reached a
multi-decade high in many countries, driven by
pent-up consumer demand, with geopolitical
developments exacerbating the rise in food and
energy costs. The developed and developing
countries took monetary tightening steps within
the scope of the fight against inflation. Türkiye, on
the other hand, introduced several alternative
measures to favour the Turkish Lira to avoid
depreciation and supportive monetary policies
aimed at encouraging lending at favourable rates
to sectors conducive to exports, investment,
employment and economic growth and to
improve financial stability. The banking sector
implemented these measures. When it comes to
the outlook for banks, short and long-term
liquidity indicators remain favourable, asset
quality remains strong and banks maintain their
strong capital structures against possible risks.
During this period, DenizBank continued to
provide secure and uninterrupted services to
customers through all its banking channels and
be a trusted banking partner to customers,
particularly in the Small and Medium Enterprises
(SME), agriculture and tourism sectors that play a
crucial role in the long-term success and
sustainable development of the Turkish economy.
In line with its sustainability goals, DenizBank
continues to contribute to the economy by
promoting responsible investment in the
environment, the planet and the future. DenizBank
successfully raised international funding through
syndicated loan facilities, bilateral loans and
other transactions in 2022.
In February 2022, DenizBank executed its first
Sustainability-Linked Repo transaction, executed
with Standard Chartered, targeting the increase in
sustainable agricultural lending and in the number
of branches and ATMs fit for people of
determination as Key Performance Indicators.
In June 2022, DenizBank renewed its
syndicated loan facility which was named
'Deal of the Year-Europe' by The Banker, as it was
the only syndicated loan which includes a Chinese
Yuan tranche, with a roll-over ratio of 120%.
The USD 453 million syndicated loan facility
includes sustainability performance criteria, such
as financing its small and medium-scale
women-owned enterprises, calculating its carbon
footprint (gas emissions of its Head Office building
and branches) and providing sustainability trainings
to minimum 95% of its employees. DenizBank also
obtained the World Bank facility in June through
Development Bank of Turkey (TKYB), with an
amount of USD 60 million with a tenor of five
years and EUR 45 million from Proparco with a
tenor of seven years in July. The proceeds will be
used to finance the agriculture sector, renewable
energy and energy efficiency projects, women
SMEs and SMEs affected by COVID-19.
DenizBank renewed its ESG-linked syndicated loan
facility in November 2022 with a total amount of
USD 630 million, resulting in a rollover ratio of
78%. The deal was considered as the most widely
participated and largest transaction in the second
half of 2022, supported by 36 lenders across 17
countries. With this transaction, the sustainability-
linked funding amount secured by the Bank to the
economy, under the ownership of Emirates NBD
since 2019, has reached USD 1.8 billion.
In
addition to gaining financial success,
DenizBank, broke new ground in technology and
innovation through its foray into the Metaverse.
Under the umbrella of NEOHUB, the new
generation subsidiary of the Bank has
collaborated with Atlas Space for the first local
Emirates NBD
ANNUAL REPORT 20
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