Investor Presentaiton

33 REVIEW OF PERFORMANCE Looking to the Future with Confidence Global Markets and Treasury Global Markets and Treasury (GM&T) delivered an outstanding performance with total income of AED 1.7 billion and profit surpassing the AED 1.5 billion mark for the first time in the Group's history. Net interest income grew significantly as the balance sheet was strategically positioned to benefit from interest rate rises, coupled with a significant increase in banking book investment income. Non funded income doubled as Rates, Foreign exchange and Credit Trading all delivered improved results and the Sales and Structuring team grew revenue by more than 55% on very strong client FX flows. International Treasury divisions grew their revenue by 99%. GM&T were one of the most active primary dealers for T-Bonds issued by Ministry of Finance. GM&T upgraded its systems to support an expanded product offering and enhance customer experience through smart digitisation initiatives. Emirates Islamic Emirates Islamic (EI) recorded its highest ever net profit of AED 1.2 billion in 2022, registering a significant increase by 51% over 2021. Total income up by 33% to AED 3.2 billion. EI recorded its highest growth in finance receivables and deposits since 2016. The strong performance was based on higher income and a significant reduction in the cost of risk, reflecting an improved business sentiment. Compared to 2021, EI reported a 36% increase in operating profit as well as an improvement in Impairment Allowances. Strong capital and liquidity combined with a healthy deposit mix enabled it to support its diversified client base. EI reported an increase of 19% in customer deposits compared to 2021, of which CASA balances increased by 13% over 2021. EI expanded its product offerings with the launch of new products such as Emarati Family Savings Account, Emarati Business Account, Super Savings Etihad Guest Account and 'Businesswomen Account' offering a host of benefits and privileges to support women entrepreneurs in the UAE. EI also launched cardless cash withdrawal via its global cash management platform, businessONLINE as part of its commitment to supporting UAE businesses with seamless business-friendly solutions. In 2022, it entered into a strategic collaboration with Tradeling, the largest eMarketplace focused on B2B transactions in the MENA region. EI complies with Consumer Protection Regulation and standards of CBUAE. Moreover, EI remained committed to its strategic agenda of becoming a key banking partner for UAE Nationals. During the year, it continued to invest in a range of initiatives to deliver a differentiated value proposition for its Emirati clientele. In addition, EI focused on prioritising services across various touch points for Emirati customers through enhancements in systems and processes. EI showed its commitment to providing local investors with seamless access to the UAE capital markets by acting as a Receiving Bank for the successful IPOS on the DFM, including DEWA, Salik, TECOM, TAALEEM and EMPOWER. In 2022, EI continued to strengthen its digital offerings, allowing customers easy access to a range of banking transactions, backed by the latest technology and innovations. EI registered a 21% increase in the number of online/mobile banking transactions in 2022 over the previous year and launched various initiatives including ATM/CDM transformation. It also added features on Chat Banking via WhatsApp as well as offered the transformed mobile banking app to a limited audience. EI is committed to supporting the community and contributed AED 108.1 million to a range of charitable initiatives in 2022 through the Emirates Islamic Charity Fund. Based on core nal Digital t Pran Shari'ah principles, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions. Post COVID-19, the Bank waived debts amounting to approximately AED 1.1 million for 30 UAE National customers, as part of the UAE's Non-performing Debt Relief Fund. Customer experience is at the core of EI's strategy. In 2022, the Bank delivered Service Experience Certification training to frontline employees, expanded knowledge exchange within branches and widened the Bank's customer experience app, Axonify, for senior leaders. In addition, EI introduced a new Customer Happiness Score as part of its CRM Policy that helps to further deliver excellence for its customers. The Bank established dedicated teams to handle social media complaints and to support customers of the fut Chal Emirates NBD launches 'National Digital Talent Program' to support UAE's ambition to be a leader in Artificial Intelligence by 2031 Emirates NBD ANNUAL REPORT 20 34

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