Strategic Imperatives and Financial Overview
Divisional Performance (cont'd)
Global Markets &
Treasury
Network International
Emirates Islamic Bank
■ Revenue increased by 19% in 2010 to AED 701m driven
primarily by growth in trading revenues partly offset by a
contraction in the spreads generated from interbank funding and
the mix impact of increased net liquid assets
GM&T continued to develop products to meet customer demand
as well as ensure that alternative sources of funding were utilised
■ The first ever auto-loan securitisation in the region was
completed, raising over USD 200m of long term funding.
Revenue stood at AED 372m in 2010, broadly flat compared to
2009
Processing income grew 8% while acquiring revenues were
broadly flat as reduced margins offset a 13% growth in acquiring
volumes
In December 2010, Emirates NBD entered into a strategic
partnership with Abraaj Capital involving a 49% stake sale of NI
■ Serves over 11,000 merchants and 60 banks and financial
institutions in the region
■ EIB revenue declined 9% year-on-year to AED 767m in 2010 (net
of customers' share of profit)
■ Income includes AED 214m write-down on investment properties;
underlying income growth of 16%
Financing receivables declined 11% to AED 15.9b from end-
2009
■ Customer accounts grew by 23% to AED 25.3b from end-2009
■ Total number of EIB branches at end-2010 totaled 30 with an
ATM & SDM network of 86.
AED billion
AED million
+19%
701
590
2009
2010
■Revenue
AED million
+0%
371
372
2009
2010
■Revenue
AED million
25.3
+16%
20.5
214
18.0
15.9
2009
2010
■Financing receivables
■Customer accounts
Note: Stand-alone Financial Statements for Network International and Emirates Islamic Bank may differ from the above due to consolidation adjustments
Emirates NBD
843
767
2009
2010
■Revenue Inv Prop Write-down
21
21View entire presentation