Building the Bank of The Future
US$ convenience translation
Emirates NBD
60 years together
1601
Emirates NBD
60
Emirates NBD 601
Excluding DenizBank
DenizBank
Income Statement
FY'23
FY'22 %ΔΥΟΥ Q4-23
%A QOQ
FY'23
FY'22
%A YOY Q4-23
%A QOQ
FY'23
FY'22
%A YOY
Q4-23
%A QOQ
(All figures are in USD bn)
Net interest income
8.2
6.3
30%
2.1
6.6
4.3
54%
1.7
3%
1.6
2.1
(21)%
0.5
(10)%
Non-funded income
3.5
2.5
39%
0.7
(31)%
2.1
1.7
22%
0.5
4%
1.4
0.8
76%
0.2
(67)%
Total income
11.7
8.9
32%
2.8
(10)%
8.6
6.0
45%
2.2
3%
3.1
2.9
7%
0.6
(37)%
Operating expenses
(3.2)
(2.5)
26%
(0.9)
15%
(2.2)
(1.9)
18%
(0.6)
25%
(1.0)
(0.7)
49%
(0.3)
(2)%
Operating profit
8.5
6.3
35%
1.9
(18)%
6.5
4.1
57%
1.6
(4)%
2.1
2.2
(6)%
0.3
(51)%
before impairment
Impairment allowances
(0.9)
(1.4)
(33)%
(0.5)
252%
(0.9)
(0.9)
(0.4)
129%
(0.5)
(102)% (0.2)
n/m
Profit before tax & others
7.6
4.9
54%
1.4
(37)%
5.5
3.2
73%
1.2
(19)%
2.1
1.7
20%
0.2
(75)%
Hyperinflation adjustment
(1.2)
(0.8)
37%
(0.3)
(41)%
(1.2)
(0.8)
37%
(0.3)
(41)%
Tax
(0.6)
(0.5)
9%
(108)%
(0.1)
(0.1)
18%
(15)%
(0.5)
(0.5)
7%
(115)%
Profit
5.9
3.5
65%
1.1
Cost: income ratio
27.2%
28.5%
(1.3)%
NIM
3.95%
3.43%
52 bps
32.4%
3.81%
(23)%
7.1%
5.4
3.1
75%
1.2
(19)%
0.4
0.4
(0.1)
n/m
(27) bps
25.3% 31.1%
3.78% 2.77%
(5.8)%
101 bps
29.1%
3.58%
4.9%
(11) bps
32.3%
4.85%
23.0%
6.81% (196) bps
9.3%
44.1% 16.2%
5.11%
(105) bps
Balance Sheet
31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ
31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ
Total Assets
235
202
16%
228
3%
195
168
16%
191
2%
31-Dec-23 31-Dec-22 %A YOY 30-Sep-23 %A QoQ
40
34
19%
37
9%
Total Gross Loans
131
124
5%
135
(3)%
111
105
5%
116
(5)%
20
19
Deposits
159
137
16%
155
3%
134
115
17%
132
2%
25
220
7%
18
11%
22
11%
23
6%
Rounding differences may appear throughout the presentation
41View entire presentation