Emirates NBD Financial Performance Q1 2020
Stable Shareholder Base and Diversified Business Model
Split of ownership - Anchored by the Government of Dubai
Ownership structure as at 31 March 2020
•
Investment
Corporation of
Dubai ("ICD")
56%
Others
39%
•
Capital Assets
5%
Balanced asset composition
% by segment as at 31 March 2020
DenizBank
19%
CIB
47%
Highlights
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•
•
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A flagship bank for the Government of Dubai and the UAE
Strong and supportive shareholder base from the Government of
Dubai via Investment Corporation of Dubai
International presence in Asia, Europe and MENAT across 13
countries. DenizBank acquisition further enhanced geographic profile
Well diversified and balanced asset composition between corporate,
consumer and Islamic banking
Foreign ownership limit raised to 20% from 5% in September 2019
Intent to raise Foreign ownership limit to 40%, subject to Regulatory
approval
Equity Analysts Coverage
Buy
Hold
Sell
Recommendation
10
1
0
In AED
GMT
16%
RBWM
9%
Islamic Banking
9%
Target Price
Price at 27-Apr-2020
12.00
8.30
Adjusted EPS 31-Mar-2020
0.31
Emirates NBD Profile
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