Credit Quality Overview
Associates and Joint Ventures
Emirates NBD
Composition of Associates and Joint Ventures
Income Statement
Q3 14
AED Mn
YTD
Q3 13
YTD
Better/
(Worse)
Q3 14
Q3 13
Better/
(Worse)
National General
15
32
(53%)
6
8
(25%)
Insurance
Network International
81
68
19%
31
26
19%
Bank Islami Pakistan
Total
3
1
200%
2
0
n/a
99
101
(2%)
39
34
15%
Balance Sheet
AED Mn
30-Sep-14 31-Dec-13
Better/
(Worse)
30-Jun-14
Better /
(Worse)
National General
Insurance
191
160
20%
186
3%
Network International
Bank Islami Pakistan
1,517
1,451
5%
1,486
2%
23
20
16%
20
15%
Total
1,732
1,631
6%
1,692
2%
Highlights
Union Properties (UP) no longer classified as
Associate:
During 2013, ENBD disposed of 32.6% of
UP shares in the market
Since percentage of holding is less than
20%, ENBD does not have significant
influence in UP
UP holding has therefore been accounted
as AFS investment from 21 August 2013
Network International accounted for as a jointly
controlled entity from the start of 2011 with a
carrying value of AED 1.5 Bn
• 24.8% stake in Bank Islami Pakistan acquired
as part of Dubai Bank
25
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