Q2-16 Financial Results Highlights
UAE Banking Market Update
Highlights
M2 growth increased at a slower pace in June 2016 up by a
mere 0.5% y/y. M3 (M2 +Govt. deposits) also increased
slightly by 2.0% y/y for the same month
Bank deposits increased at a slower pace in June, up 3.4%
y/y at AED 1493 Bn. Gross loans increased AED 10.6bn in
June 2016, pushing the loan/ deposit ratio to 103.4%
3m EIBOR eased since late June, and the spread over 3m
LIBOR has also moderated as expectations about the pace of
Fed tightening this year have become more dovish
Appendix
Strategy
Financial & Operating Performance
Emirates NBD Profile
Operating Environment
UAE banking market (AED Bn)
Gross Loans 310
1233
1543
Deposits 298
1195
1493
Assets
426
2093
Emirates NBD
Other Banks
Total
Source: UAE Central Bank Statistics, ENBD as at June 2016
Bank deposit and loan growth
-Bank Loans (% y/y) -Bank deposits (% y/y)
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
-2%
-4%
Dec-10
Mar-11
Jun-11
Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Emirates NBD
7
AD ratio (RHS)
110%
105%
100%
95%
90%
85%
Dec-14
Mar-15
Jun-15
Sep-15
Dec-15
Mar-16
Source: UAE Central Bank; loan growth gross of provisions
GCC banking market
UAE(1)
KSA
Qatar
Banking Assets
USD Bn
321
Assets
% GDP(3)
686
598
Kuwait
2519
Bahrain (2)
52
Oman
81
216
84
142
159
152
99
1) Includes Foreign Banks; 2) Excludes Foreign Banks; 3) GDP data is for FY 2016 forecasted.
UAE at June 2016; Saudi and Qatar as at May 2016; Oman as at April 2016; Kuwait as at March 2016;
Bahrain as at Jun 2015 Source: UAE Central Bank; National Central Banks and Emirates NBD forecasts
177
Jun-16
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