Emirates NBD Financial Performance Q1 2020
Operating costs and efficiency
Highlights
•
Q1-20 costs increased 47% y-o-y due to the DenizBank acquisition
•
Excluding DenizBank, costs increased 2% y-o-y mainly due to higher
depreciation charges and information technology related costs
•
Cost to Income Ratio (%)
......Target
CI Ratio (YTD)
Cl Ratio
36.4
"32.9"
33.5
Costs improved 18% q-o-q due to lower staff and marketing expenses
and improved cost management by DenizBank
31.1 31.5
32.1
31.3
32.3
31.9
29.6 29.7
31.3
29.8
30.3
•
The cost to income ratio at 29.8% is within 2020 guidance but is
expected to increase during the year on lower expected income
partially offset by further cost management
Q1 18 Q2 18 Q3 18
Q4 18
Q1 19
Q2 19 Q3 19
Q4 19
Q1 20
Cost Composition (USD Mn)
+47%
681
-18%
558
512
351
381
390
329
304
24
243
246
80
21
58
28
21
69
17
16
38
40
227
129
139
83
88
Q1 19
Q2 19
Q3 19
Q4 19
Staff
Occupancy
Depreciation & Amortization
Q1 20
Other
Financial & Operating Performance
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