Emirates NBD Financial Performance Q1 2020
Net interest income
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•
Highlights
Q1-20 NIM of 3.02% increased 19 bps y-o-y as higher margins from
DenizBank coupled with improved deposit and funding costs offset the
reduction in loan yields
Excluding DenizBank, Q1-20 NIM of 2.56% declined 27 bps y-o-y as
lower loan yields offset the benefit from lower deposit cost
Net Interest Margin (%)
•
.
3.11*
Qtrly NIM
YTD NIM
3.02
NIM declined 9 bps q-o-q as the reduction in loan yields and DenizBank
margins offset the impact of lower deposit cost
Loan yields declined 70 bps y-o-y and 22 bps q-o-q which offset the
improved deposit cost of 28 bps y-o-y and 15 bps q-o-q
2.68
2.81
2.82
2.89
2.87
2.85
2.83
2.82
2.83
2.77
2.82
2.78
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NIM guidance revised down to 2.55-2.65% as recent decline in interest
rates start to flow through to the loan book in subsequent quarters and
DenizBank assets reprice
Net Interest Margin Drivers (%)
2.83
Q1-20 vs. Q1-19
2.72
Q1 18
Q2 18 Q3 18
Q4 18 Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
3.02
3.11
0.46
2.56
(0.70)
0.15
0.28
Q1-20 vs. Q4-19
0.01
(0.03)
3.02
(0.22)
0.15
Q1 19 Loan Yield Deposit
Treasury ENBD Ex- DenizBank Q1 20
Q4 19
Cost
& Other
DenizBank
Loan Yield Deposit
Cost
Treasury DenizBank Q1 20
& Other
Financial & Operating Performance 12View entire presentation