Investor Presentaiton

Operating Costs and Efficiency Cost to Income Ratio Trends Highlights Costs increased by 15% to AED 3.5 billion in 2010 resulting from: Investment in future growth across advertising and marketing costs, and expansion of retail distribution and sales force Cost to income ratio (YTD) Additional depreciation charged on properties commissioned during 2011 Card processing fees paid to NI in 2011 38.5% 37.6%37.4% 35.8% 35.7% 35.3% 34.9% 33.7% 83.8% 33.4% 32.7% 32.2% 32.9% 32.2% 31.4% 30.7% The cost to Income ratio for 2011 increased by 3.9% to 35.3% from 31.4% in 2010 In 2012, the cost to Income ratio is expected to be managed to the target range of C.33%-34% Target CI Ratio of 32%-33% 3,053 Operating Cost Trends in 2011 (AED million) 53 319 (10) 181 (89) 3,508 Q1 08 Q2 08 Q3 08Q4 08 Q1 09Q2 09Q3 09Q4 09Q1 10Q2 10Q3 10Q4 10Q1 11 Q2 11Q3 11Q4 11 Operating Cost Components (AED million) 3,053 182 486 232 275 1,878 +15% 3,508 93 667 285 265 2,197 2010 Staff Cost Occpancy Depreciation Other Cost NI/DB 2011 2010 cost Staff Cost ■Occpancy cost ■Depreciation 2011 Other Cost □ NI/DB Emirates NBD 18

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