Emirates NBD Q1 2023 Financial Highlights
US$ convenience translation
Emirates NBD
(
Emirates NBD
Excluding DenizBank
DenizBank
Income Statement
Q1-23
Q1-22
%A YOY Q4-22
%A QOQ
Q1-23
Q1-22
%A YOY Q4-22
%A QOQ
Q1-23
Q1-22 %ΔΥΟΥ Q4-22
%A QOQ
(All figures are in USD bn)
Net interest income
2.0
1.2
69%
2.1
(7)%
1.6
0.8
93%
1.4
15%
0.4
0.3
11%
0.7
(48)%
Non-funded income
0.9
0.6
54%
0.6
55%
0.6
0.4
34%
0.4
27%
0.3
0.2
107%
0.1
141%
Total income
2.9
1.7
64%
2.7
7%
2.1
1.2
73%
1.8
18%
0.7
0.5
42%
0.9
(18)%
Operating expenses
(0.7)
(0.5)
34%
(0.8)
(8)%
(0.5)
(0.4)
20%
(0.6)
(18)%
(0.2)
(0.1)
73%
(0.2)
22%
Operating profit
2.1
1.2
77%
1.9
12%
1.7
0.8
98%
1.2
35%
0.5
0.4
29%
0.7
(30)%
before impairment
Impairment allowances
(0.1)
(0.4)
(66)%
(0.5)
(76)%
(0.2)
(0.2)
(2)%
(0.3)
(14)%
0.1
(0.1)
(189)%
(0.2)
(149)%
Profit before tax & others
2.0
0.8
145%
1.4
46%
1.4
0.6
139%
1.0
49%
0.6
0.2
160%
0.4
38%
Hyperinflation adjustment
(0.2)
0%
(0.2)
21%
0.0
0%
(0.2)
0%
(0.2)
21%
Tax
(0.1)
(0.1)
91%
(0.1)
15%
(0.0)
(0.0)
0%
(0.0)
84%
(0.1)
(0.0)
125%
(0.1)
6%
Profit
1.6
0.7
119%
1.1
54%
1.4
0.6
144%
0.9
49%
0.2
0.2
38%
0.1
92%
Cost: income ratio
25.3%
NIM
4.05%
30.8%
2.60%
(5.5)%
145 bps
29.1%
4.40%
(3.8)%
(35) bps
22.1%
3.94%
31.8%
2.20%
(9.7)%
31.7%
(9.6)%
35.0%
174 bps
3.48%
46 bps
4.57%
28.3%
4.66%
6.7%
23.6%
11.4%
(9) bps
8.97%
(440) bps
Balance Sheet
31-Mar-23 31-Mar-22 %A YoY 31-Dec-22
%A QoQ
31-Mar-23
31-Mar-22
%A YoY
31-Dec-22
%A QoQ
31-Mar-23 31-Mar-22
%A YoY
31-Dec-22
%A QOQ
Total Assets
213
189
13%
202
5%
177
159
11%
168
5%
37
30
22%
34
8%
Total Gross Loans
128
116
10%
124
3%
108
98
10%
105
3%
20
18
12%
19
6%
Deposits
147
128
15%
137
7%
122
109
12%
115
7%
24
19
28%
22
9%
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