Investor Presentaiton
Q4 2012 Financial Results Highlights
Highlights
Net profit of AED 625 million,
broadly stable vs. Q3 2012 and
+312% vs. Q4 2011
⚫ Net interest income improved 2%
q-o-q and declined 8% y-o-y to
AED 1,766 million due to net interest
margin variability
• Non-interest income declined by 6%
q-o-q and improved by 32% y-o-y;
core fee income stable q-o-q
.
Costs improved by 6% y-o-y to
AED 958 million due to cost
optimisation initiatives, but increased
10% q-o-q mainly due to Dubai Bank
integration costs
Continued balance sheet de-risking
and conservatism on provisioning
resulted in net impairment
allowances of AED 940 million
Net loans increased 3% q-o-q and
7% since end-2011
Deposits stable q-o-q and increased
11% since end-2011
Headline LTD ratio at 102% vs.
105% at end-2011
Key Performance Indicators
Emirates NBD
AED million
Q4 2012
Q4 2011
%
Q3 2012
%
Net interest income
1,766
1,929
-8%
1,730
+2%
Non-interest income
740
562
+32%
790
-6%
Total income
2,506
2,491
+1%
2,520
-1%
Operating expenses
(958)
(1,025)
-6%
(874)
+10%
Amortisation of
(20)
(23)
-15%
(20)
intangibles
Pre-impairment
1,528
1,443
+6%
1,626
-6%
operating profit
Impairment allowances
(940)
(1,057)
-11%
(1,008)
-7%
Operating profit
588
386
+52%
618
-5%
Share of profits and
impairment of
37
(227)
-116%
27
+35%
associates
Taxation charge
0
(7)
-108%
(5)
-111%
Net profit
625
152
+312%
640
-2%
Cost: income ratio
38.2%
41.1%
-2.9%
34.7%
+3.5%
Net interest margin
2.47%
2.85%
-0.38%
2.35%
+0.12%
AED billion
Loans
218.2
31-Dec-12 31-Dec-11
203.1
%
30-Sep-12 %
+7%
Deposits
213.9
193.3
+11%
212.5
214.2
+3%
-0%
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