Credit Quality and Financial Performance
Non Interest Income
Highlights
2010 non-interest income declined by 13% from 2009, impacted by:
○ USD 58m write-downs of investment properties
○
lower positive investment securities income
о
core gross fee income witnessing signs of stabilisation
Q1 2011 non-interest income declined by 26% y-o-y and 5% q-o-q due to:
О
о
lower investment securities income given impact on regional investment
valuations due to regional geopolitical issues, and
deconsolidation of Network International
Q1 2011 core fee income grew 7% and 19% from Q1 2010 and Q4 2010
respectively, driven by:
O pickup in trade finance income (+14% q-o-q and +1% y-o-y)
increase in banking fee income (+16% q-o-q and +32% y-o-y)
Core Gross Fee Income Trends in 2010 (USD million)
Composition of Non Interest Income (USD million)
Fees & commission
expense
Q1
USD million
2011
Q1
2010
Change
(%)
Change
2010
2009
(%)
Core gross fee income
181
161
+12%
909
936
-3%
(18)
(10)
+88%
(206)
(181)
-14%
Core fee income
163
152
+7%
703
755
-7%
Investment properties
Investment securities
Network International(1)
0
(20)
-101%
(51)
(11)
+346%
3
66
-95%
145
177
-18%
-
27
-100%
n/a
n/a
n/a
167
225
-26%
797
921
-13%
Total Non Interest
Income
1) Network International non interest income split out for quarterly comparisons only
Quarterly Core Gross Fee Income Components (USD million)
936
23
(15)
(8)
(32)
181
176
166
161
145
49
50
50
72
12
30
9
12
9
11
86
909
66
71
51
74
37
41
33
33
37
2009
Trade
finance
Fee Income Acquiring
business
Brokerage
Forex,
2010
& AM fees
Rates &
Other
Q1 10
Q2 10
Q3 10
Q4 10
Q1 11
■Trade finance ■Fee Income
■Brokerage & AM fees
■Forex, Rates & Other
Emirates NBD
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