Investor Presentaiton
Q3 2013 YTD Financial Results Highlights
Emirates NBD
Highlights
YTD Net interest income rose 15% helped
by increased volumes in higher yielding
retail products, declining EIBOR, cheaper
bank borrowings, more efficient capital
structure and contribution from
business in Egypt
• YTD Non-interest income improved 9%
due to seasonal effects
• YTD Costs rose by 8% (3.2% excluding the
newly acquired Egypt business), YTD cost
to income ratio improved by 1.6% to 33.6%
Pre-impairment operating profit improved
8% q-o-q and 16% y-o-y
Conservative provisioning in line with
guidance for the year with net impairment
allowances at AED 3.4 billion, increasing
the coverage ratio YTD by over 7% to
54.8%
Gain of AED 191 million on disposal of
stake in Union Properties
Net profit of AED 2,584 million YTD
improved 34% compared to Q3 12 YTD
• Net loans increased 7% YTD
AED million
operating profit
Key Performance Indicators
Q3 13
YTD
Q3 12
Better/
Q3 13
Q2 13
YTD
(Worse)
Better/
(Worse)
Net interest income
5,915
5,146
15%
2,254
1,913
18%
our
Non-interest income
2,780
2,560
9%
891
1,007 (12%)
Total income
8,695
7,706
13%
3,145
2,920
8%
Operating expenses
(2,920)
(2,710) (8%) (1,038)
(973)
(7%)
Amortisation of
(47)
(60)
21% (16)
(16)
0%
intangibles
Pre-impairment
5,728
4,936
16%
2,091
1,931
8%
Impairment allowances
(3,400)
(3,064)
(11%)
(1,515)
(996)
(52%)
Operating profit
2,328
1,872
24%
576
935
(38%)
Share of profits and
impairment of associates
Gain on disposal of
subsidiaries
101
73
38%
34
41
(16%)
191
0
n/a
191
n/a
Taxation charge
(36)
(16)
(126%)
(26)
(3)
(654%)
Net profit
2,584
1,929
34%
775
973
(20%)
Cost: income ratio (%)
33.6%
35.2%
Net interest margin (%)
2.57%
1.6%
2.42% 0.14% 2.83%
33.0%
33.3% 0.3%
2.48% 0.35%
AED billion
30-Sep-13 30-Jun-13
Better/
(Worse)
Better/
31-Dec-12
(Worse)
Total assets
332.3
334.8
• Deposits increased 7% YTD
(1%)
308.3
8%
Loans
234.4
231.8
1%
218.2
7%
• Headline LTD ratio of 102.5% remains
comfortably within 95-105% target range
Deposits
228.6
230.3
(1%)
213.9
7%
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