Q2-18 Financial Results Highlights
Appendix
Strategy
Financial & Operating Performance
Emirates NBD Profile
Operating Environment
H1-18 Financial Results Highlights
Key Performance Indicators
Highlights
Record half-year net profit of AED 5,018 Mn for
H1-18 increased 29% y-o-y
Net interest income improved 20% y-o-y and 11%
compared to H2-17 on loan growth coupled with an
improvement in margins
Non-interest income declined 2% y-o-y and 7%
compared to H2-17 due to lower income from
investment securities
Costs increased 17% y-o-y and 2% compared to
H2-17 due to higher staff and IT costs relating to
our digital transformation and technology refresh.
Costs were also higher as a result of international
branch expansion
Provisions of AED 755 Mn improved 40% y-o-y
whilst coverage ratio strengthened to 128.4%
NPL ratio stable at 6.0%
LCR of 158.7% and AD ratio of 94.4%
demonstrates the Group's healthy liquidity position
NIMs improved 37 bps y-o-y to 2.78% YTD as rate
rises flowed through to loan book
Emirates NBD
Better /
AED Mn
H1-18
H1-17
H2-17
(Worse)
Better /
(Worse)
Net interest income
6,229
5,185
20%
5,601
11%
Non-interest income
2,222
2,268
(2%)
2,401
(7%)
Total income
8,451
7,453
13%
8,002
6%
Operating expenses
(2,646)
(2,253)
(17%) (2,592)
(2%)
Pre-impairment
5,805
5,200
12%
5,410
7%
operating profit
Impairment allowances
(755)
Operating profit
5,050
3,940
(1,260) 40%
28%
(968)
22%
4,442
14%
Share of profits from
49
12
294%
60
(18%)
associates
Taxation charge
(82)
(58)
(40%)
(50)
(62%)
Net profit
5,018
3,894
Cost: income ratio (%)
Net interest margin (%)
31.3%
2.78%
29%
30.2% (1.1%) 32.4%
2.41% 0.37% 2.53%
4,452
13%
1.1%
0.25%
AED Bn
30-Jun-18 30-Jun-17 %
31-Dec-17 %
Total assets
477.5
456.2
5%
470.4
2%
Loans
316.4
304.0
4%
304.1
4%
Deposits
335.0
319.9
5%
326.5
3%
AD ratio (%)
94.4%
95.0%
0.6%
93.1% (1.3%)
NPL ratio (%)
6.0%
6.1%
0.1%
6.2%
0.2%
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