Investor Presentaiton
EMIRATES NBD
REVIEW OF
PERFORMANCE
ANNUAL REPORT 2021
Emirates Islamic
Emirates Islamic's (EI) net profit in 2021 jumped to
AED 823 million, reflecting the strong economic recovery
in the aftermath of the COVID-19 pandemic. The strong
performance was based on higher income and a
significant reduction in the cost of risk, reflecting an
improved business sentiment. Compared to 2020, El
reported a 20% y-o-y improvement in operating profit and
74% y-o-y reduction in impairment allowances. Strong
capital and liquidity combined with a healthy deposit mix
enabled El to support its diversified client base.
As the UAE opened its doors to the world for Expo 2020
Dubai, El is proud to support the event as the official
Islamic Banking Partner. To mark the partnership, El
launched a co-branded Expo 2020 Credit Card offering
UAE residents an exclusive, limited-edition free-for-life
card that rewards them with exclusive privileges during
the iconic event.
True to El's core Shariah principles and as part of its
commitment to the community, the Emirates Islamic
Charity Fund contributed AED 51 million in 2021 to a
range of charitable initiatives.
Throughout the COVID-19 pandemic, El supported the
community by extending payment deferments to more
than 40,000 customers utilising the Central Bank of the
UAE's TESS funding as well as from its own relief funds
totalling AED 2.5 billion, of which AED 1.2 billion
remained outstanding as at December 2021.
El continued to play a leading role in the growth of the
Islamic banking sector in the UAE. In 2021, El successfully
issued a USD 500 million, 5-year RegS Sukuk achieving
the lowest spread ever paid by a UAE bank since 2008
for a USD benchmark public debt issuance.
El remained committed to its strategic agenda of
becoming a key banking partner for UAE Nationals.
During the year, it continued to invest in a range of
initiatives to deliver a differentiated value proposition
for its Emirati clientele. These included a prioritised
response at El's Call Centre for Emirati callers, improving
procedures and touch points for Emirati clients as well
as enhancing services such as instant account opening
through tablets in branches and sales teams.
Providing a superior banking experience to customers
remains a key focus for El as it continued to strengthen
its value proposition through best-in-class innovative
digital-led offerings and investments in new
technologies. It registered 21% increase in the number
of online and mobile banking transactions in 2021 over
the previous year, and 11% increase in the number of
logins during the same period.
Customer experience is at the core of El's strategy. The
bank expanded its Customer Happiness Score (CHS)
across 17 functions in 2021. CHS is a score-based key
performance indicator incorporated into El's front-end
and support functions. In order to fully equip its people
with the right tools in providing excellent customer
service, El launched CX Academy, a learning platform to
help define service standards across all touchpoints. It
also launched its WeConnect Community, comprising of
select customers, with the aim to further strengthen
engagement and test new banking solutions before
rolling out to the public.
El remained committed to supporting the Central Bank
of the UAE's Emiratisation policy through various
initiatives to increase Emirati participation in critical
roles within the organisation. El currently has one of the
highest Emiratisation levels in the UAE banking sector,
at 36% of total employees with 35% of critical positions,
including 50% in its senior management, being held by
UAE Nationals. It also maintained its momentum in
learning and development initiatives for UAE National
talent, namely The National Achievers Strategic
Academy, Integrated Learning Journey, Future Proof
Banker and Leadership in Action programmes.
Fitch Ratings has reaffirmed El's Long-Term Issuer
Default Rating (LT IDR) of 'A+' with a Stable Outlook,
Short-Term IDR (ST IDR) of 'F1', and a Viability Rating (VR)
at 'bb-' for the sixth consecutive year.
DenizBank
DenizBank has been a member of Emirates NBD Group
since July 2019. As a full-scale commercial bank,
DenizBank has a comprehensive network of over 3,130
ATMs / SDMs with 686 branches in Turkey and a further
26 branches in Austria, Germany and Bahrain.
DenizBank serves around 15.4 million customers
through over 14,000 employees.
The bank contributed total income of AED 7,042 million
and a net profit of AED 1,643 million to Emirates NBD
Group in 2021 and had total assets of AED 109 billion,
net loans of AED 61 billion and deposits of AED 69 billion
at the end of 2021.
As the ongoing pandemic continues to impact the
economy, the Turkish government remains supportive
of the banking sector through various economic
stimulus programmes and measures.
During this period, DenizBank continued to provide
Emirates NBD
اركنا العب
OM
29
29
Emirates NBD marks Year of the 50th with 'The Emirates Constellation'
30View entire presentation