Emirates NBD Investor Presentation H1 2021
DenizBank business overview
Business Overview
DenizBank contributed total income of USD 903m and net profit of USD 282m to the
Group for H1-21
Financial Highlights
USD million
Q2-21
Q2-20
Better/
(Worse)
Q1-21
Better/
(Worse)
•
DenizBank contributed total income of USD 347m and net profit of USD 107m to the
Group for Q2-21
Net interest income
Non-funded income
341
378
(10)%
350
(3)%
7
96
(93)%
205
(97)%
•⚫ Net interest income down q-o-q on higher funding costs on earlier rate rises. Non-funded
income declined q-o-q due to non-recurrence of Q1 MTM gains
• Q2-21 net cost of risk of 125 bps compared to 320 bps in Q2-20 and 285 bps in Q1-21
• Total assets of USD 34bn, USD 20bn net loans and USD 22bn deposits at end Q2-21
DenizBank is the fifth largest private bank in Turkey with wide presence through a
network of 719 branches servicing around 15m customers through 14,000+ employees
•
Operating profit
Taxation charge
Net profit
Total income
347
474
(27)%
555
(37)%
Operating expenses
(157)
(154)
(2)%
(152)
(3)%
Pre-impairment operating profit
190
320
(41)%
403
(53)%
Impairment allowances
(61)
(178)
66%
(180)
66%
129
142
(9)%
224
(42)%
(21)
(26)
18%
(49)
(56)%
107
116
(7)%
175
(39)%
Cost: income ratio
45.2%
32.4% (12.8)%
27.4%
(17.8)%
Net interest margin
4.12%
4.40% (0.28)% 4.13% (0.01)%
Segment breakdown
Financial Highlights (USD billion)
7.0
6.7
Net Loans as at 30-Jun-21
46%
91.2
91.9
Corporate Banking
Consumer Banking
35.7
34.3
22.1
23.1
20.4
21.5
Q4-20
Q2-21
54%
Assets
Net Loans
Deposits
NPL Ratio
(Unadjusted)
AD Ratio
(Unadjusted)
All financial numbers post acquisition (1-Aug-19) include the fair value adjustments, unless otherwise stated.
Financial and Operating Performance
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