Emirates NBD Financial Performance and Awards 2014
Associates and Joint Ventures
Emirates NBD
Composition of Associates and Joint Ventures
Income Statement
AED Mn
FY 14
FY 13
Better/
(Worse)
Q4 14
Q3 14
Better/
(Worse)
National General
13
38
(66%)
(3)
6 (150%)
Insurance
Network International
133
107
24%
52
31
68%
Bank Islami Pakistan
3
1
200%
0
2
(100%)
Total
149
146
2%
49
39
26%
Balance Sheet
AED Mn
31-Dec-14 31-Dec-13
Better/
(Worse)
30-Sep-14
Better/
(Worse)
National General
Insurance
189
160
18%
191
(1%)
Network International
Bank Islami Pakistan
Total
1,570
1,451
8%
1,517
3%
23
20
14%
23
(2%)
1,781
1,631
9%
1,732
3%
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 1.6 Bn
24.8% stake in Bank Islami Pakistan acquired
as part of Dubai Bank
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