Building the Bank of The Future
Financial Results Highlights FY23
Emirates NBD
60 years together
1601
Emirates NBD
60
Emirates NBD
Excluding DenizBank
160
DenizBank
Income Statement
FY'23
FY'22 %ΔΥΟΥ Q4-23
%A QOQ
FY'23
FY'22
%A YOY
Q4-23
%A QOQ
FY'23
FY'22
%A YOY
Q4-23
%A QOQ
(All figures are in AED bn)
Net interest income
30.1
23.2
30%
7.8
24.1
15.7
54%
6.1
3%
6.0
7.6
(21)%
1.7
(10)%
Non-funded income
12.9
9.3
39%
2.5
(31)%
7.6
6.3
22%
1.9
4%
5.3
3.0
76%
0.6
(67)%
Total income
43.0
32.5
32%
10.3
(10)%
31.7
21.9
45%
8.1
3%
11.3
10.6
7%
2.3
(37)%
Operating expenses
(11.7)
(9.3)
26%
(3.3)
15%
(8.0)
(6.8)
18%
(2.4)
25%
(3.6)
(2.4)
49%
(1.0)
(2)%
Operating profit
31.3
23.3
35%
7.0
(18)%
23.7
15.1
57%
5.7
(4)%
7.6
8.1
(6)%
1.3
(51)%
before impairment
Impairment allowances
(3.4)
(5.2)
(33)%
(1.9)
252%
(3.5)
(3.5)
(1.3)
129%
(1.7)
(102)% (0.6)
n/m
Profit before tax & others
27.9
18.1
54%
5.0
(37)%
20.2
11.7
73%
4.4
(19)%
7.7
6.4
20%
0.7
(75)%
Hyperinflation adjustment
(4.2)
(3.1)
37%
(1.1)
(41)%
(4.2)
(3.1)
37%
(1.1)
(41)%
Tax
(2.1)
(2.0)
9%
0.1
(108)%
(0.3)
(0.2)
18%
(0.1)
(15)%
(1.9)
(1.7)
7%
0.1
(115)%
Profit
21.5
13.0
65%
4.0
(23)%
20.0
11.4
75%
4.3
(19)%
1.6
1.6
(0.3)
n/m
Cost: income ratio
27.2%
28.5%
(1.3)%
NIM
3.95%
3.43%
52 bps
32.4%
3.81%
7.1%
(27) bps
25.3% 31.1%
3.78% 2.77%
(5.8)% 29.1%
101 bps
3.58%
4.9%
(11) bps
32.3% 23.0%
4.85% 6.81%
9.3%
(196) bps
44.1% 16.2%
5.11%
(105) bps
Balance Sheet
31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ
Total Assets
863
742
16%
836
3%
618
31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ
715
700
31-Dec-23 31-Dec-22 %A YOY 30-Sep-23 %A QoQ
16%
2%
147
124
19%
136
9%
Total Gross Loans
481
456
5%
494
(3)%
407
387
5%
427
(5)%
74
69
7%
67
11%
Deposits
585
503
16%
570
3%
494
421
17%
484
2%
91
82
11%
86
6%
Rounding differences may appear throughout the presentation
40View entire presentation