Emirates NBD Investor Presentation H1 2021
Net interest income
Highlights
• Q2-21 NIM declined 2 bps q-o-q to 2.44% as:
Net Interest Margin (%)
-
-
Loan yields declined 4 bps reflecting a 1 and 5 bps fall in 1 & 3-month EIBOR
Funding costs improved 9 bps on higher CASA balances
3.11
2.83
3.02
Qtrly NIM
YTD NIM
-
Treasury yields declined 6 bps as liquid assets were deployed at lower yields
2.89
-
DenizBank margins down 1 bps as earlier rate rises have largely flowed through
2.84
2.77
2.73
• YTD NIM declined 39 bps y-o-y as improved funding costs were more than offset by
reduced loan yields due to lower interest rates and lower DenizBank NIMS
2.82
2.65
2.68
2.72
2.48
2.46
• NIM guidance revised up by 5 bps to 2.40-2.50% as margins expected to remain stable
for the remainder of the year
2.42
2.45
2.44
Q2 19
Q3 19
Q4 19 Q1 20
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Net Interest Margin Drivers (%)
2.84
0.44
2.51
2.45
0.07
(0.06)
(1.08)
0.68
2.40
2.46
(0.06)
0.09
2.44
(0.04)
(0.01)
H1 20 Loan Yield
Deposit
Cost
Treasury
ENBD DenizBank H121
Q1 21
Loan Yield
& Other Ex-Deniz
Deposit
Cost
Treasury DenizBank
& Other
Q2 21
Financial and Operating Performance
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