Emirates NBD Investor Presentation H1 2021
Operating expenses
Highlights
Cost to Income Ratio (%)
•
Q2-21 expenses improved 3% y-o-y due to lower staff and operating expenses
following earlier cost management exercises
CI Ratio (YTD) →
CI Ratio (QTD)
41.5
Target
• Q2-21 expenses up 2% q-o-q due to incentives related to strong retail growth and
higher costs from DenizBank
• Q2-21 cost to income ratio increased to 35.3% on lower non-funded income,
particularly from DenizBank
34.0
35.3
36.4
32.0
30.3
32.6
31.3
33.8
31.8
32.1
•
The year-to-date cost to income ratio was 32.6% in H1-21 and is expected to increase
in H2 towards the 35% management guidance
31.7
29.7
30.3
29.8
Q2 19 Q3 19
Q4 19
Q1 20
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Operating expenses composition (USD million)
-3%
558
532
+2%
493
509
517
309
325
290
304
294
22
22
22
67
18
18
63
65
70
68
160
114
109
139
129
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Staff
Occupancy
Depreciation & Amortization
Other
Financial and Operating Performance
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