Emirates NBD Earnings Overview H1-2023
US$ convenience translation
Emirates NBD
160
Emirates NBD 601
Excluding DenizBank
DenizBank
Income Statement
H1-23
H1-22 %ΔΥΟΥ Q2-23
%A QOQ
H1-23
H1-22 %A YOY Q2-23
%A QoQ
H1-23
H1-22
%A YOY
Q2-23
%A QOQ
(All figures are in USD bn)
Net interest income
3.9
2.6
53%
2.0
1%
3.3
1.7
87%
1.7
5%
0.7
0.8
(20)%
0.3
(21)%
Non-funded income
1.9
1.3
44%
1.0
10%
1.1
0.8
26%
0.5
(11)%
0.8
0.5
77%
0.5
44%
Total income
5.8
3.9
50%
2.9
3%
4.3
2.6
67%
2.2
1%
1.5
1.3
15%
0.8
10%
Operating expenses
(1.5)
(1.1)
34%
(0.8)
7%
(1.0)
(0.8)
28%
(0.6)
19%
(0.5)
(0.3)
50%
(0.2)
(17)%
Operating profit
4.3
2.8
56%
2.2
2%
3.3
1.8
85%
1.6
(4)%
1.0
1.0
4%
0.6
24%
before impairment
Impairment allowances
(0.3)
(0.5)
(50)%
(0.1)
1%
(0.4)
(0.4)
(5)%
(0.2)
(28)%
0.2
(0.1)
(345)%
0.0
(61)%
Profit before tax & others
4.1
2.2
80%
2.1
2%
2.9
1.3
115%
1.4
1%
1.2
0.9
30%
0.6
7%
Hyperinflation adjustment
(0.4)
(0.5)
(28)%
(0.1)
(37)%
0.0
0.0
0.0
(0.4)
(0.5)
(28)%
(0.1)
(37)%
Tax
(0.3)
(0.3)
19%
(0.2)
56%
(0.0)
(0.0)
14%
(0.0)
(15)%
(0.3)
(0.3)
20%
(0.2)
70%
Profit
3.3
1.4
130%
1.7
4%
2.8
1.3
118%
1.4
1%
0.5
0.2
234%
0.3
19%
Cost: income ratio
25.6%
28.7%
NIM
3.96%
2.86%
(3.1)%
110 bps
26.0%
3.87%
0.7%
(18) bps
24.0% 31.4%
3.98% 2.31%
(7)% 25.9%
167 bps
3.93%
1.9%
30.4%
23.1%
7.3%
26.3%
(8.7)%
(1) bps
4.05%
5.72%
(167) bps
3.54%
(103) bps
Balance Sheet
30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ
30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ
30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ
Total Assets
221
202
9%
213
4%
187
168
11%
177
6%
34
34
1%
37
(7)%
Total Gross Loans
131
124
5%
128
2%
112
105
7%
108
4%
18
19
(4)%
20
(9)%
Deposits
151
137
11%
147
3%
130
115
13%
122
6%
22
22
(2)%
24
(10)%
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