Dubai: Positioning for Future Growth
Operating Expenses
Cost to Income Ratio (%)
34.0
34.8
33.1
33.5
30.8
28.7
28.2
26.7
Highlights Income
Liquidity
Risk
Expenses Capital
Divisional
10
27.4
Key Highlights
9M'22 cost to income ratio at 28.2% within guidance reflecting stronger
income enabling accelerated investment for growth
Staff costs increased y-o-y on incentives to drive underlying earnings.
and investment in human capital for future growth in digital and
international
Higher depreciation and amortization costs reflect increased investment
in digital platform
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
CI Ratio (YTD)
Guidance
CI Ratio (QTD)
Operating expenses trends
All figures are in AED mn
+19%
2,272
2,327
2,078
1,956
1,965
499
Other Cost
625
457
410
400
177
IT & Commun.
182
150
156
175
255
Dep. & Amort.
236
239
217
208
1,396
1,157
1,229
1,192
1,238
Staff Cost
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Operating expenses composition (%)
Breakdown as of Q3-22
Depreciation 9%
Amortization 2%
Other 11%
O
Staff 60%
IT 4%
Occupancy 3%
Equip. & Supp. 3%
Commun. 3%
Service & Legal...
Marketing 2%
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