Credit Quality and Financial Performance
Divisional Performance
Global Markets & Treasury
Emirates Islamic Bank
■ Revenue declined by 47% in Q1 2011 to USD 40 million driven
mainly by lower sales and trading income and lower gains on
principal investments
Trading business revenue was impacted by the regional
geopolitical tensions, financial crisis in some European countries
and the natural disaster in Japan resulting in increased volatility
in global equity markets and lower foreign institutional interest in
Regional markets
■ Treasury Sales saw reduced income from sales of balance sheet
hedging products as the low interest rate environment continued
to affect clients' decisions to hedge their interest rate exposure;
the foreign exchange flow business is showing signs of
stabilisation though as regional trade flows pick up
USD million
75
-47%
58
59
40
40
Q1 10
Q4 10
Q1 11
■Revenue
■ EIB revenue increased by 14% year-on-year to USD 50 million in
Q1 2011 (net of customers' share of profit), aided by a reduction
in negative revaluations on investment properties
Financing receivables declined 3% to USD 4.2 billion from end-
2010
■ Customer accounts grew by 9% to USD 7.5 billion from end-
2009
■ Total number of EIB branches at Q1 2011 totaled 31 with an
ATM & SDM network of 91
Note: Stand-alone Financial Statements for Emirates Islamic Bank may differ from these results due to
consolidation adjustments
Emirates NBD
USD billion
USD million
+14%
7.5
48
6.9
44
5.5
4.8
4.3
4.2
Q1 10
Q4 10
50
50
Q1 11
Q1 10
Q4 10
Q1 11
Financing Receivables
■Customer Accounts
■Revenue
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