Emirates NBD Q1 2023 Financial Highlights
Income Statement
Emirates NBD
(
Emirates NBD
Excluding DenizBank
DenizBank ✡
Income Statement
Q1-23
Q1-22
%ΔΥΟΥ Q4-22
%A QOQ
Q1-23
Q1-22
%A YOY Q4-22
%A QOQ
Q1-23
Q1-22
%A YOY Q4-22
%A QOQ
(All figures are in AED bn)
Net interest income
7.2
4.3
69%
7.7
(7)%
5.8
3.0
93%
5.1
15%
1.4
1.2
11%
2.6
(48)%
Non-funded income
3.3
2.1
54%
2.1
55%
2.0
1.5
34%
1.6
27%
1.2
0.6
107%
0.5
141%
Total income
10.5
6.4
64%
9.8
7%
7.9
4.6
73%
6.7
18%
2.6
1.8
42%
3.1
(18)%
Operating expenses
(2.6)
(2.0)
34%
(2.9)
(8)%
(1.7)
(1.4)
20%
(2.1)
(18)%
(0.9)
(0.5)
73%
(0.7)
22%
Operating profit
7.8
4.4
77%
7.0
12%
6.1
3.1
98%
4.6
35%
1.7
1.3
29%
2.4
(30)%
before impairment
Impairment allowances
(0.5)
(1.4)
(66)%
(1.9)
(76)%
(0.9)
(0.9)
(2)%
(1.1)
(14)%
0.4
(0.5)
(189)%
(0.9)
(149)%
Profit before tax & others
7.4
3.0
145%
5.0
46%
5.2
2.2
139%
3.5
49%
2.1
0.8
160%
1.5
38%
Hyperinflation adjustment
(0.8)
(0.7)
21%
0.0
0.0
(0.8)
(0.7)
21%
Tax
(0.5)
(0.3)
91%
(0.4)
15%
(0.1)
(0.1)
9%
(0.0)
84%
(0.4)
(0.2)
125%
(0.4)
6%
Profit
6.0
2.7
119%
3.9
54%
5.2
2.1
144%
3.5
49%
0.9
0.6
38%
0.5
92%
Cost: income ratio
25.3%
30.8%
(5.5)%
29.1%
(3.8)%
22.1%
31.8%
(9.7)%
31.7%
(9.6)%
35.0%
28.3%
6.7%
23.6%
11.4%
NIM
4.05%
2.60%
145 bps
4.40%
(35) bps
3.94%
2.20%
174 bps
3.48%
46 bps
4.57%
4.66%
(9) bps
8.97%
(440) bps
Balance Sheet
31-Mar-23 31-Mar-22
%Δ ΥΟΥ
31-Dec-22
%A QOQ
31-Mar-23
Total Assets
782
694
13%
742
5%
648
31-Mar-22
584
%A YOY
31-Dec-22
%A QOQ
31-Mar-23
31-Mar-22
%A YOY
31-Dec-22
%A QOQ
11%
618
5%
134
110
22%
124
8%
Total Gross Loans
470
463
1%
456
3%
397
398
(0)%
387
2%
73
65
12%
69
6%
Deposits
538
469
15%
503
7%
449
399
12%
421
7%
89
70
28%
82
9%
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