Q3 2023 Results Presentation
Divisional Performance
62%
Key Highlights
Retail Banking and Wealth Management continued its excellent performance with its highest
ever nine-month revenue, strongest ever acquisition, and substantial growth in balance sheet
Lending increased 16% by AED 15 bn and Deposits grew by AED 29 bn in 9M' 2023
One-third market share of UAE Credit Card spend as card spend grew 28 % y-o-y
Income grew 36% on record volumes, improved margins and highest ever non-funded income
'ENBD X' mobile banking app successfully rolled out, using latest technology, security and
user experience trends propelling it to the #1 Finance app in the region
Signature launched offering ultra-HNW customers unrivalled benefits, services and privileges
AUMS grew by an impressive 28% in 2023, reflecting ENBD's full-service platform on the back
of Digital wealth platform expansion giving customers access to over 11,000 global equities
Corporate and Institutional Banking strengthened its strategic partnership with major
Government entities and Corporates by enhancing digitized service platforms
Profitability jumped 104% due to significant growth in revenues on increased lending, higher
cross-sell across products and strong recoveries
Corporate lending (ex. Sovereign) up 15% on strong origination throughout region in
Manufacturing, Trade, Transport and Communication and conglomerates
Landmark corporate deals including AED 10 billion hybrid Credit Facilities and US$ 3.5 billion
revolving Credit Facility closed for large multinational customers
'Emirates NBD Pay', our Merchant Acquiring service, onboarded more than 20 clients, with
over AED 3.5 billion transaction value since launch
ESG-Linked Supply Chain Finance Program launched with Emirates Global Aluminum
Global Markets and Treasury delivered an outstanding performance, generating almost AED 3
billion in income in the first nine months of 2023
Income grew by 186% driven by favorable Balance Sheet positioning coupled with a
significant increase in banking book investment income
The trading desk reported robust numbers with Foreign Exchange trading posting 89% growth
Sales delivered strong growth, driven by Foreign Exchange and Structured products
Group Funding issued a US$ 750m green bond, the largest ever from a regional bank
DenizBank
Profit up 63% to AED 1.9 billion helped by higher income and strong recoveries
Operating Segment
Metrics
9M'23
9M'22
%A YOY
Income (mn)
12,057
8,888
36%
Expense (mn)
3,021
2,505
21%
Retail Banking and
Wealth Management
Profit (mn)
6,367
5,548
15%
Loans (bn)
110
94
17%
Deposits (bn)
287
243
18%
Income (mn)
5,895
4,544
30%
Expense (mn)
516
478
8%
Corporate and
Institutional Banking
Profit (mn)
5,702
2,788
> 100%
Loans (bn)
317
297
7%
Deposits (bn)
197
159
24%
Income (mn)
2,976
1,040
> 100%
Global Markets and
Expense (mn)
149
133
12%
Treasury
Profit (mn)
2,762
847
> 100%
Income (mn)
9,026
7,424
22%
Expense (mn)
2,664
1,702
57%
DenizBank
Profit (mn)
1,851
1,139
Loans (bn)
67
66
1%
Deposits (bn)
86
79
9%
11View entire presentation