Emirates NBD Financial Performance and Awards 2014
Q4-14 Financial Results Highlights
Emirates NBD
Highlights
Net profit of AED 1,226 Mn for Q4
improved 82% y-o-y and declined 22%
q-o-q
Net interest income rose 11% y-o-y
helped by an improved asset mix mainly
due to Islamic growth, a lower cost of
funds helped by both CASA growth and
repayment of MOF Tier 2 deposit
Non-interest income improved
y-o-y boosted by foreign exchange and
derivative income but declined 22% q-o-q
due to reduced income from sale of
property and investment securities
15%
• Cost to income ratio improved 5.7%
y-o-y to 33.1%. Excluding one-offs, cost
to income ratio was 30.5%. Expenses
improved 4% y-o-y linked with rising
business volumes, partially offset by a
control of staff and other costs
• NPL ratio improved significantly to 7.8%
in Q4 due to reclassification of DW
exposure, write-off of fully provided Retail
loans and strong recoveries on the back
of an improved economy
• Provisions of AED 1,163 Mn boosted the
coverage ratio to 100.3%
• AD ratio of 95.2% within management
range
NIMS improved 15 bps y-o-y to 2.91%
due to an improved asset and deposit
mix
Key Performance Indicators
Better/
AED Mn
Q4-14
Q4-13
Q3-14
(Worse)
Better/
(Worse)
Net interest income
2,473
2,224
11%
2,465
0%
Non-interest income
1,082
938
15%
1,380
(22%)
Total income
3,555
3,162
12%
3,845
(8%)
Operating expenses
(1,177)
(1,228)
4%
(1,075)
(10%)
Pre-impairment
2,378
1,934
23%
2,770
operating profit
(14%)
Impairment allowances
(1,163)
(1,313)
11%
(1,219)
5%
Operating profit
Share of profits from
associates
1,214
621
95%
1,552
(22%)
51
45
12%
38
35%
Gain on disposal of stake
0
12
(100%)
0
n/a
(39)
(5)
(632%)
(27)
(47%)
Net profit
1,226
673
82%
1,563
(22%)
Cost: income ratio (%)
33.1%
38.8%
5.7%
27.9%
(5.2%)
Net interest margin (%)
2.91%
2.76%
0.15%
2.95% (0.04%)
AED Bn
31-Dec-14 31-Dec-13
%
30-Sep-14
%
Total assets
363.0
342.1
6%
353.9
3%
Loans
246.0
238.3
3%
247.7
(1%)
Deposits
258.3
239.6
8%
249.7
3%
16
in associates/subsidiaries
Taxation chargeView entire presentation