Emirates NBD Financial Performance Q1 2020
UAE: private sector credit growth slowed down in Q1 2020
Breakdown of UAE bank credit by economic activity
12
110
% y/y
AD Ratio (RHS)
Bank Deposits (LHS)
%
Bank Loans (LHS)
Highlights
Growth in UAE bank deposits rose 1.3% m/m and 5.9% y/y during
March 2020. Non Resident deposits were up 3.9% m/m in March
while resident deposits were also slightly up 1.0% m/m. Deposit
growth averaged 4.5% in first three months of 2020
Gross loans rose 1.3% m/m in March 2020 and 5.6% y-o-y while bank
credit growth averaged 4.8% in first three months of 2020. Private
sector credit growth remained modest, reaching 1.3% y/y in March up
0.7% m/m
10
8
6
4
GCC banking market, March 2020
UAE
KSA
Qatar
Kuwait
Banking Assets USD Bn
Oman
79
235
427
Source: UAE Central Bank, Bloomberg; *ENBD as at 31-Mar-20 excluding DenizBank
713
2
105
100
95
0
90
Mar-16 Sep-16 Mar-17 Sep-17 Mar-18
Sep-18
Mar-19 Sep-19
Mar-20
UAE banking market (USD Bn), March 2020*
843
Gross Loans 106
370
476
Deposits 102
396
498
Assets
154
690
Emirates NBD
Other Banks
843
Economic Environment 22View entire presentation