Investor Presentation | FY-2022
Quarterly profits again exceed US$ 1bn equivalent
Income Statement
Q4-22
Q4-21
%ΔΥΟΥ
Q3-22
%A QOQ
(All figures are in AED bn)
Key Highlights
Net interest income
7.7
4.3
78%
6.1
27%
Non-funded income
2.1
2.2
(3)%
2.4
(12)%
Total income
9.8
6.5
50%
8.5
16%
Operating expenses
(2.9)
(2.3)
26%
(2.3)
23%
Pre-impairment operating profit
7.0
4.2
64%
6.2
13%
Impairment allowances
(1.9)
(2.2)
(12)%
(1.4)
40%
Tax and others
(0.4)
(0.1)
697%
(0.5)
7%
Profit after tax and before hyperinflation
4.6
2.0
128%
4.3
6%
Hyperinflation adjustment
(0.7)
(0.5)
28%
Net profit
3.9
2.0
94%
3.8
3%
Cost: income ratio
NIM
29.1%
34.8%
(5.7)%
27.4%
4.40%
2.59%
181 bps
3.57%
1.7%
83 bps
Balance Sheet
31-Dec-22
31-Dec-21
%A
30-Sep-22
%A
(All figures are in AED bn)
Total assets
742
687
8%
721
3%
Loans (excluding Sovereign)
343
307
12%
343
Continued strong performance in Q4-22 with net profit again
exceeding US$1 bn equivalent, an increase of 94% y-o-y on
higher net interest income
Net interest income up 78% y-o-y on improved loan &
deposit mix
- Higher interest rates feeding through to margins
- Strong new lending growth
Non-funded income decreased marginally by 3% y-o-y
Group accelerating investment in international, digital and
data
Q4-22 impairment allowances improved 12% y-o-y on higher
writebacks and recoveries
Healthy new lending on continued strong retail and renewed
corporate lending demand
Group maintains strong Capital and Liquidity with coverage
ratio highest amongst regional peers
Sovereign lending
113
152
(26)%
114
(1)%
Total Gross Loans
456
459
(1)%
457
Deposits
503
456
10%
481
5%
CET-1 (%)
15.4%
15.1%
0.3%
15.5%
LCR (%)
182%
178%
5%
152%
(0.1)%
30%
NPL ratio (%)
6.0%
6.3%
(0.3)%
5.8%
0.2%
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