Investor Presentaiton
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Net interest income
Highlights
Q2-20 NIM of 2.68% declined 4 bps compared to Q2-19 as lower interest
rates offset the positive contribution from DenizBank.
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H1-20 NIM of 2.84% improved 7 bps y-o-y helped by the positive impact
from DenizBank. Excluding DenizBank, H1-20 NIM of 2.40% declined 37
bps y-o-y as lower loan yields offset the benefit from lower deposit costs
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Net Interest Margin (%)
Qtrly NIM
YTD NIM
3.11
3.02
Q2-20 NIM declined 34 bps q-o-q as the reduction in loan yields offset the
impact of lower deposit costs and positive impact from DenizBank
2.89
2.87
2.82
2.85
2.83
2.83
2.77
Fall in loan yields reflects one and three month EIBORS falling 141 and
149 bps respectively during 2020
2.81
2.82
2.82
2.78
NIM guidance remains at 2.55-2.65% as we anticipate smaller impact on
loan yields in H2-20 as earlier rate cuts have now largely flowed through
to EIBOR rates
Net Interest Margin Drivers (%)
2.77
H1-20 vs. H1-19
2.84
2.72
2.68
Q2 18
Q3 18
Q4 18
Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
Q2 20
2.84
3.02
0.44
2.40
(0.96)
0.12
0.47
Q2-20 vs. Q1-20
2.68
0.11
0.20
(1.30)
0.65
H1 19
Loan Yield Deposit
Treasury ENBD Ex- DenizBank H1 20
Q1 20
Cost
& Other DenizBank
Loan Yield Deposit
Cost
Treasury DenizBank Q2 20
& Other
Financial & Operating Performance 12View entire presentation