Investor Presentaiton
REVIEW OF PERFORMANCE
Looking to the Future
with Confidence
Financial Overview
The UAE economy grew strongly in 2022, helped
by a recovery in tourism, population growth, a
buoyant property market and a high oil price.
Emirates NBD's profits jumped 40% to
AED 13 billion in 2022, demonstrating the
resilience of the Group's diversified business
model and strong regional economic growth.
2022 was a record year for retail lending and
customer transactions, with all business units
delivering an outstanding performance, driving
income 36% higher. New corporate lending grew
by AED 50 billion in 2022 reflecting continued
business optimism and AED 20 billion further
CASA growth improved the deposit mix, helped by
strong sector liquidity. Credit quality remains
healthy reflecting the region's strong economy
with impairment charge down 12%. We have
opened new branches in KSA, Egypt and India,
accelerating investment in our international
footprint and digital capabilities to support further
growth. In light of the Group's strong performance,
a 20% increase in the cash dividend to 60 fils per
share is proposed.
Total income was up 36% to AED 32.5 billion in
2022 due to Emirates NBD's excellent deposit
mix, with higher interest rates feeding through to
margins and strong growth across all business
segment and products.
International
revenue diversifies income,
representing 39% of total revenue with further
branches opened in KSA, Egypt and India.
Earnings per share were up significantly by 43%
to 198 fils.
Total assets up 8% at AED 742 billion.
Capital and Liquidity ratios strengthened, reflecting
the Group's solid balance sheet, used to empower
customers and create opportunities to prosper.
Emirates NBD played a lead role in the delivery of
over AED 31 billion of IPOs, supporting growth in
the Dubai economy, with an end-to-end IPO
subscription website offering real-time on-boarding
through a state-of-the-art, fully digital platform.
Emirates NBD leads the way on Emiratisation by
significantly investing in upskilling, re-skilling and
developing Emiratis though international training
and development programmes. This successful
long-term succession planning has led to 70% of
UAE Group Executive Committee now Emiratis.
We appointed a Group Head of ESG, reporting
directly to Group CEO, demonstrating our
commitment of further advancing important
Environmental, Social and Governance initiatives.
We maintained our position amongst regional banks
as a leader in banking Information Technology. We
upgraded and consolidated all our core technology
platforms featuring a modern architecture. We
are now 100% cloud native with the largest
private cloud in Middle East. 97% of all sales and
servicing transactions now fully STP automated.
We launched a range of exciting new products
and services including 'ENBD X', an enhanced
mobile banking app, delivering a new standard in
customer service and 'Emirates NBD Pay',
launched to offer merchant acquiring services to
institutional clients and provide loans against
POS receivables.
Our AA CoE is identifying untapped revenue
streams and improving customer service by
scrutinising over 20 million daily customer data
points. We are proud of our progress in
transforming ourselves into an 'international
data-first bank'.
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Emirates NBD
الاتحاد 1 5
من عُمق
الهادي
ANNUAL REPORT 20
In the Presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum Emirates NBD Board of
Directors recognizes ICAEW qualified UAE National Chartered Accountants
Emirates NBD marks 51st UAE National Day with unique tribute to nation's space programme
Emirates NBD
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