Emirates NBD Q1 2023 Financial Highlights
NIMs trending towards guidance range on collective impact
of rate rises, deposit mix and Turkish regulations
Net Interest Margin (%)
Quarterly NIM
YTD NIM
4.40
4.05
4.05
3.57
3.09
3.43
3.10
2.60
2.89
2.82
2.86
2.65
2.60
2.53
Fed Funds Upper Bound
2.50% 1.75% 0.25%
0.25%
0.50%
1.75%
3.25%
4.50%
5.00%
2018
2019
2020
2021
Q1-22
Q2-22 Q3-22
Q4-22
Q1-23
Key Highlights
Q1-23 NIM up 145 bps y-o-y due to improved loan & deposit mix and higher interest
rates
Q1-23 NIM down 35 bps q-o-q on DenizBank NIM contraction from regulatory impact
partially offset by higher interest rates
Guidance maintained at 3.8-4.0% on collective impact of rate rises, deposit mix and
Turkish regulations
NIM drivers Q1-23 vs Q1-22 (%)
2.60
3.51
(0.92)
(0.85)
(0.29)
4.05
NIM drivers Q1-23 vs Q4-22 (%)
4.40
1.00
(0.25)
(0.28)
4.05
(0.82)
Q1-22
Loan Yield Deposit Cost
Treasury
& Other
DenizBank
Q1-23
Q4-22
Loan Yield
Deposit Cost
Treasury
& Other
DenizBank
Q1-23
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