Building the Bank of The Future
Divisional performance
Operating Segment
Metrics
FY'23
FY'22
%A YOY
Income (mn)
16,211
12,401
31%
Expense (mn)
4,319
3,498
23%
Retail Banking and
Wealth Management
Profit (mn)
8,010
7,493
7%
Loans (bn)
114
95
19%
Deposits (bn)
293
258
13%
Income (mn)
7,705
6,213
24%
Expense (mn)
754
674
12%
Corporate and
Institutional Banking
Profit (mn)
7,148
3,753
90%
Loans (bn)
293
292
0%
Deposits (bn)
201
163
23%
Income (mn)
3,738
1,961
91%
Global Markets and
Expense (mn)
217
185
17%
Treasury
Profit (mn)
3,366
1,676
> 100%
Income (mn)
11,283
10,562
7%
Expense (mn)
3,663
2,448
50%
DenizBank
Profit (mn)
1,569
1,586
(1)%
Loans (bn)
74
69
7%
Deposits (bn)
91
82
11%
Emirates NBD
60 years together
1601
Key Highlights
Retail Banking and Wealth Management (RBWM) had a remarkable 2023 with highest ever annual
revenue, strongest ever loan acquisition and substantial balance sheet growth
Lending up by record AED 18bn and Deposits grew by AED 35bn with 77% CASA: Deposit ratio
33% market share of UAE Credit Card spend as card spend grew 25% y-o-y
'ENBD X' & 'EI +' mobile banking app successfully rolled out in the UAE, using latest technology,
security and user experience trends, offering market-leading products and services
Digital wealth platform expanded, giving access to 11,000 global equities, elevating ENBD X as
a one-stop solution for everyday banking and wealth management
AUMS grew by an impressive 40%, reflecting Emirates NBD's full service platform
Corporate and Institutional Banking capitalised on its strategic partnership with major
Government entities and Corporates by enhancing digitised service platforms
Profitability almost doubled y-o-y on higher margins due to rising interest rates, growth in
lending, higher fee income and strong recoveries
Corporate lending (ex. Sovereign) up 18%, driven by AED 70bn of new lending throughout
region, on strong origination in Manufacturing, Trade, Transport, Comm. and conglomerates
Significant CASA growth helped efficiently manage cost of funding
Record year for EmCap, raising $79bn for regional & international clients across 134 deals
ESG-Linked Supply Chain Finance Program launched in collaboration with major Corporates
Paperless cash solutions for Corporate customers
Global Markets and Treasury delivered outstanding performance, with profit doubling to AED
3.4bn, driven by favourable Balance Sheet positioning and higher investment income
Trading desk reported higher profits with FX trading posting 64% growth
Sales delivered strong growth, driven by Structured products and FX
Leading primary dealer in Dirham sovereign market; first bank to issue Dirham bond and Sukuk
Product offering enhanced with real-time FX quotes, Carbon Trading and fractional bonds
DenizBank maintained profit at AED 1.6 bn, providing fresh funding to economy, growing balance
sheet 19% to AED 147 bn
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