Investor Presentaiton
Financial results highlights Q4 2021
Highlights
Income
Expenses
Risk
Capital
Liquidity
Macro
Divisional
Better /
Better /
Income Statement (USD bn)
Q4-21
Q4-20
Q3-21
(Worse)
(Worse)
Key Highlights
Net interest income
1.2
1.1
7%
1.2
(3)%
Non-funded income
0.6
0.2
146%
0.4
67%
Total income
1.8
1.3
32%
1.6
13%
• Net profit up 53% y-o-y with strong income momentum
• Income up 32% y-o-y and 13% q-o-q on higher non-funded income
Operating expenses
(0.6)
(0.6)
(11)%
(0.5)
(16)%
Pre-impairment operating profit
1.2
0.8
47%
1.0
12%
-
Increased transaction activity
Growth in FX & Derivative income
Impairment allowances
(0.6)
(0.4)
(38)%
(0.3)
(97)%
-
Operating profit
0.6
0.4
58%
0.7
(23)%
-
Taxation charge and others
(0.0)
0.0
(994)%
(0.1)
72%
.
USD 0.1 bn gain relating to Dubai Bank
Record CASA balances keeping funding costs stable
Expenses well controlled with Q4-21 CI ratio up due to seasonality
Net profit
0.5
0.4
53%
0.7
(20)%
Cost: income ratio (%)
34.8%
Net interest margin (%)
2.59%
41.5%
2.42%
6.7%
0.17%
34.0%
(0.8)%
-
Higher staff cost due to retail incentives and investment for future growth
-
Other costs up due to seasonality, campaigns and IT investment
2.65% (0.06)%
• Q4-21 cost of risk of 172 bps with provisions of USD 0.6bn
Balance Sheet (USD bn)
31-Dec-21 31-Dec-20
Inc /
(Dec)
30-Sep-21
Total assets
Loans
187.1
190.0
(2)% 190.2
Inc/
(Dec)
(2)%
• Retail loan growth continued in Q4 2021
Group maintains strong Capital and Liquidity
114.9
120.7
(5)%
119.3
(4)%
Deposits
124.2
126.3
(2)%
126.9 (2)%
CET-1 (%)
15.1%
LCR (%)
177.6%
NPL ratio (%)
6.3%
15.0% 0.1%
165.0% 12.6% 157.2%
6.2% 0.1% 6.2%
16.1%
(1.0)%
20.4%
0.1%
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