Investor Presentaiton
EMIRATES NBD
REVIEW OF
PERFORMANCE
ANNUAL REPORT 2021
EGYPT
Emirates NBD Egypt has enhanced its strategy to
attract higher volumes of local-currency, fixed rate
deposits, both Corporate and Retail, supporting asset
growth and developing a more stable funding base
and protecting against potential interest rate hikes.
Corporate Banking continued to be an integral part of
Emirates NBD Egypt's growth and was complemented
by Retail Banking delivering another good year of asset
growth. Business Banking committed to an ambitious
plan to grow its loan book in line with the Central Bank
Eric's NBD
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of Egypt's mandate for all banks to increase SME lending.
Emirates NBD Egypt successfully grew its number of
digitally active customers, through a number of
initiatives to inform customers and promote the Bank's
state-of-the-art digital solutions. Emirates NBD Egypt
has ambitious aspirations for the future with an
increased focus on gaining market share, boosting
income, and leveraging the Group's capabilities to lead
the market on the digital front and offer an even better
banking experience to its customers.
Emirates NBD expands its presence in KSA
Emirates Ne
KINGDOM OF SAUDI ARABIA (KSA)
Despite the ongoing effects of the COVID-19 pandemic
and travel restrictions in KSA during most of 2021, we
have delivered strong financial results - strong double
digit revenue growth - on the back of sustained growth
in Corporate exposure along with commendable
performance on Retail volumes. We have been
recognised as the Best Foreign Bank in KSA 2021 by the
International Finance Awards. We continue to expand
our footprint in the Kingdom with the opening of three
new branches and three sales offices in 2021. We
became the first foreign bank to have branches in the
holy cities of Makkah and Medina, and now cover a total
of five cities in Saudi Arabia. In 2022, we plan to make
further progress on our expansion journey by opening
four new branches. On the sustainability front, our
newest branch in Riyadh has bagged the prestigious US
Leadership in Energy and Environmental Design (LEED)
Gold certification securing us the first position amongst
KSA banks for environmentally friendly branches. We
also achieved several milestones on our digitisation and
automation journey. Our KSA branch was the first within
the Group entities to migrate to the new in-house
developed loan management system. We also launched
a Digital Branch Kiosk and are in final stages to launch a
new channel - Tablet Banking.
UNITED KINGDOM (UK)
In the UK, the branch continued to deliver on its growth
strategy and delivered an excellent performance in
2021 with significant revenue growth over last year. The
challenging conditions, including travel restrictions,
affected parts of Private Banking operations but were
offset by both trade finance opportunities within
Corporate and Institutional Banking (driven by higher oil
prices over the course of 2021), as well as a benign
interest rate environment and cooperation with the
wider network (including DenizBank). The branch
continued to navigate recurring lockdowns with minimal
impact to business and customer service. The impact of
a prolonged remote working business model on the
health and wellbeing of staff was addressed through
ongoing social activities and dedicated training and
awareness sessions. The branch remains committed to
its role to support the Group's clients and continues its
focus on climate change and operational resilience.
INDIA
In India, despite our newly established presence of just
four years, we have consistently achieved strong
revenue, profit and balance sheet growth. India branch
continues to fulfil our international aspirations for
greater organic growth by acting as a bridge to capture
trade flows within the Group network. The branch has
established capabilities to offer a comprehensive suite
of Corporate Banking, Trade Finance and Treasury
products. Additionally, India branch has facilitated many
local corporates, banks and non-banking finance
companies to raise funds through offshore debt
issuances during 2021. As part of our future growth
plans in India, we have received local regulator's
approval for setting up two additional branches; one in
Gurugram (near New Delhi) and another in Chennai.
These two branches will become operational in 2022,
giving further impetus to our growth plans in India.
SINGAPORE
2021 was a busy year for Singapore branch. Despite
operating on a remote-working basis for most of the
year and stringent travel restrictions, the branch
leveraged on the Group's network to deliver a strong
financial performance in 2021, surpassing revenue and
profit targets. The branch delivered a healthy growth in
revenue over 2020. The Private Banking team delivered
its best performance to-date, offering geographic
diversification to strategic clients. The C&IB business
also grew, and together with Emirates NBD Capital
closed several notable Middle East focused capital
markets transactions for Asian market clients. Trade
Finance continues to be a strong engine of growth and
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