Investor Presentaiton
Financial results highlights Q4 2021
Highlights
Income
Expenses
Risk
Capital
Liquidity
Macro
Divisional
Better /
Better /
Income Statement (AED bn)
Q4-21
Q4-20
Q3-21
(Worse)
(Worse)
Key Highlights
Net interest income
4.3
4.0
7%
4.4
(3)%
Non-funded income
2.2
0.9
146%
1.3
67%
Total income
6.5
4.9
32%
5.8
13%
• Net profit up 53% y-o-y with strong income momentum
• Income up 32% y-o-y and 13% q-o-q on higher non-funded income
Operating expenses
(2.3)
(2.0)
(11)%
(2.0)
(16)%
Pre-impairment operating profit
4.2
2.9
47%
3.8
12%
-
Increased transaction activity
Growth in FX & Derivative income
Impairment allowances
(2.2)
(1.6)
(38)%
(1.1)
(97)%
AED 0.3 bn gain relating to Dubai Bank
Operating profit
2.1
1.3
58%
2.7
(23)%
-
Record CASA balances keeping funding costs stable
Taxation charge and others
(0.1)
0.0
(994)%
(0.2)
72%
.
Expenses well controlled with Q4-21 CI ratio up due to seasonality
Net profit
2.0
1.3
53%
2.5
Cost: income ratio (%)
34.8%
41.5%
6.7%
34.0%
(20)%
(0.8)%
-
Higher staff cost due to retail incentives and investment for future growth
-
Other costs up due to seasonality, campaigns and IT investment
Net interest margin (%)
2.59%
2.42%
0.17%
2.65%
(0.06)%
• Q4-21 cost of risk of 172 bps with provisions of AED 2.2bn
Balance Sheet (AED bn)
31-Dec-21 31-Dec-20
Inc /
(Dec)
30-Sep-21
Inc/
(Dec)
• Retail loan growth continued in Q4 2021
Total assets
Loans
687.4
698.1
(2)%
699.1
(2)%
Group maintains strong Capital and Liquidity
422.3
443.5
(5)% 438.3
(4)%
Deposits
456.5
464.2
CET-1 (%)
15.1%
LCR (%)
177.6%
NPL ratio (%)
6.3%
(2)%
15.0% 0.1%
165.0% 12.6%
6.2% 0.1%
466.5
(2)%
16.1%
(1.0)%
157.2%
20.4%
6.2%
0.1%
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