Emirates NBD Q2 2022 Financial Results
Stable Shareholder Base and Diversified Business Model
Split of ownership - Anchored by the Government of Dubai
Ownership structure as at 30 June 2022
Others
39%
Capital Assets
5%
Balanced asset composition
% by segment as at 30 June 2022
GM&T
20%
Investment
Corporation of Dubai
56%
CI&B
43%
DenizBank
16%
Key Highlights
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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 40% from 20% in July 2020 with
foreign ownership at 12.4% at June 2022
Recommendation
In AED
Equity Analysts Coverage
Buy
Hold
Sell
11
1
Target Price
17.1
RBWM
Price at 28-Jul-2022
13.25
11%
0.80
EPS 30-Jun-2022
Islamic Banking
10%
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