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Presentation Title 1 Important Information Emirates NBD Investor Presentation February-March 2020 Presentation Title 1 Important Information Disclaimer The material in this presentation is general background information about Emirates NBD's activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take in to account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. The information contained here in has been prepared by Emirates NBD. Some of the information relied on by Emirates NBD is obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. Forward Looking Statements It is possible that this presentation could or may contain forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could or other words of similar meaning. Undue reliance should not be placed on any such statements because, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group’s plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. There are several factors which could cause actual results to differ materially from those expressed or implied in forward looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. Emirates NBD undertakes no obligation to revise or update any forward looking statement contained within this presentation, regardless of whether those statements are affected as a result of new information, future events or otherwise. 2 1. Emirates NBD Profile 2. Financial & Operating Performance 3. Divisional Performance 4. Economic Environment 7 3 Emirates NBD is a Leading Bank in the MENAT Region Key Highlights as of Q4 2019 Emirates NBD at a Glance AED 683 Bn AED 437 Bn AED 86.7 Bn Total Assets Gross Customer Loans Market Capitalization* 13 1,000+ 14.7 million Countries Branches Customers 3rd 2nd ~20% Largest in GCC** Largest in the UAE** Market Share in UAE (Assets, Loans, Deposits)*** 56% 20% 40% Government of Dubai Foreign Intent to Further Increase Shareholding Ownership Limit Foreign Ownership Limit *Market cap as at 29-Jan-20; **By assets as at 31-Dec-19 Emirates NBD Profile 4 ***Market share in UAE as at 31-Dec-19 Emirates NBD at a glance Emirates NBD’s International Presence Market share in the UAE* Assets 17.8%; Loans 21.5%; Deposits Moscow 20.0% London 16 1 1 Germany 27 Austria Largest financial institution in rd Turkey Dubai, 3 largest in the GCC Beijing 707 1 Leading retail banking franchise Bahrain with a branch network of around 1,000 76 4 1 branches throughout the MENAT Egypt KSA 147 region with operations in 13 countries Mumbai UAE 1 Leader in digital banking: 6th best Singapore banking app worldwide with expanding 1 customer acquisition 1 Jakarta 55.8% indirectly owned by the Government of Dubai through ICD Emirates NBD Emirates NBD Rep. Offices Stable credit ratings DenizBank Rated A3 / A+ by Moody’s / Fitch * As at Q4 2019 excluding DenizBank Emirates NBD Profile 5 Emirates NBD is one of the largest banks in the GCC % Dec-19 vs. Dec-18 Total Assets Gross Loans Total Deposits Net Profit AED Bn, 31-Dec 2019 AED Bn, 31-Dec 2019 AED Bn, 31-Dec 2019 AED Bn, 2019 YoY 950 10% 698 11% 687 10% 14.5 44% 822 10% 467 32% 518 12% 14.4 4% 683 37% 419 15% 472 36% 12.5 4% 496 12% 283 5% 345 11% 11.2 19% 405 45% 257 49% 261 48% 5.5 19% Emirates NBD Profile 6 Stable Shareholder Base and Diversified Business Model Split of ownership – Anchored by the Government of Dubai Highlights Ownership structure as at 31 December 2019 • A flagship bank for the Government of Dubai and the UAE • Strong and supportive shareholder base from the Government of Dubai via Investment Corporation of Dubai • International presence in Asia, Europe and MENAT across 13 Investment Others Corporation of 39% countries. DenizBank acquisition further enhanced geographic profile Dubai (“ICD”) 56% • Well diversified and balanced asset composition between corporate, consumer and Islamic banking • Foreign ownership limit raised to 20% from 5% in September 2019 • Signaled intent to seek to increase Foreign ownership limit to 40% Capital Assets 5% Balances asset composition Equity Analysts Coverage % by segment as at 31 December 2019 DenizBank Buy Hold Sell 19% Recommendation 10 1 0 In AED Treasury Target Price 14.92 Corporate 16% 45% Price at 30-Jan-2020 13.75 9% Adjusted EPS 31-Dec-2019 1.68 Consumer 2% 9% Islamic Others Emirates NBD Profile 7 Digital lifestyle banking continuing innovation Recent Launches Liv. Sure, Smartphone insurance – a range of insurance products for millennials Olivia, a Millennial chatbot – a conversational AI (artificial intelligence) based chatbot Goal accounts – multiple goal based saving options for the customers Key Achievements Fastest growing retail bank in the UAE with more than 15,000 customers added to the network per month Expanded its range of services with capabilities like international transfers Crossing the 350,000 customer mark within two years of commencing operations Strong customer engagement with an average of 14 logins per customer per month Highest rated amongst all banking applications with a Google Play Store rating of 4.5 out of 5 Emirates NBD Profile 8 Emirates NBD delivered a strong set of results in 2019 Key Metrics 2020 Macro themes 2019 2020 FY 2019 Regional Global Guidance Guidance AED 14.5 Bn Net Profit +44% y-o-y • World Bank forecasts Profit • Expo 2020 to help global economy to NIM 2.75-2.85% 2.89% 2.75-2.85% support demand expand by 2.5% in across multiple 2020 with an expected Cost to income 33% 32.1% 33% sectors in Dubai recovery in developing NPL Ratio Stable 5.6% Slight countries including Increase Turkey Credit Quality Coverage Ratio Stable 112.3% Stable CET 1 15.3% Capital Tier 1 17.4% • World Bank forecasts • Geopolitics CAR 18.5% slower growth in the • Softening UAE real US and other AD Ratio 90-100% 92.6% 90-100% estate prices Liquidity developing nations LCR 160.0% Loan Growth mid-single mid-single Assets (2019 Excl. 7.0% digit digit DenizBank) Financial & Operating Performance 9 FY 2019 Financial results highlights Highlights Key performance indicators (Including DenizBank from 1st Aug 2019) Better / AED Mn FY 2019 FY 2018 • Net profit of AED 14,504 Mn for 2019 increased 44% y-o-y, or (Worse) 38% excluding DenizBank Net interest income 16,188 12,888 26% • Results include DenizBank revenue of AED 3,643 Mn and net Non-interest income 6,231 4,515 38% profit of AED 609 Mn for the five months since acquisition date Total income 22,419 17,402 29% • Core Operating Profit grew 4% y-o-y, or declined 5% excluding Operating expenses (7,207) (5,620) (28)% DenizBank due to higher impairment allowances Pre-impairment operating profit 15,211 11,783 29% • Net interest income improved 26% y-o-y, or 6% excluding DenizBank supported by 7% loan growth Impairment allowances (4,818) (1,748) (176)% • NIMs improved by 7 bps to 2.89% y-o-y due to the positive impact Operating profit 10,393 10,034 4% Gain on disposal of stake in NI and fair of DenizBank 4,389 - n/a value gain on retained interest • Non-interest income increased 38% y-o-y, or 13% excluding DenizBank due to higher foreign exchange and credit card related Share of profits from associates 19 136 (86)% income Gain on bargain purchase 92 - n/a • Costs increased 28% y-o-y, or 6% excluding DenizBank due to a Taxation charge (390) (129) (203)% rise in staff costs including redundancies, amortization of Net profit 14,504 10,042 44% intangibles and higher depreciation due to IFRS 16 Cost: income ratio 32.1% 32.3% 0.2% implementation • Impairment allowances of AED 4,818 Mn increased 176% y-o-y, Net interest margin 2.89% 2.82% 0.07% or 88% excluding DenizBank due to higher charges and lower writebacks and recoveries AED Bn 31-Dec-19 31-Dec-18 % • Net cost of risk increased to 117 bps in 2019 Total assets 683.3 500.3 37% • During 2019 the NPL ratio settled at 5.6% as a result of acquisition Loans 437.4 327.9 33% of DenizBank’s loans at fair value Deposits 472.2 347.9 36% • LCR of 160.0% and AD ratio of 92.6% demonstrate the Bank’s AD ratio (%) 92.6% 94.3% 1.7% healthy liquidity position NPL ratio (%) 5.6% 5.9% 0.3% Financial & Operating Performance 10 Q4-19 Financial results highlights Highlights Key performance indicators (Including DenizBank from 1st Aug 2019) Better / Better / AED Mn Q4-19 Q4-18 Q3-19 • Net profit of AED 2,020 Mn for Q4-19 decreased 15% y-o-y (Worse) (Worse) due to higher impairment charge Net interest income 5,065 3,352 51% 4,271 19% • Net profit declined 60% q-o-q as Q3-19 included a gain from Non-interest income 1,812 1,145 58% 1,743 4% the partial disposal of NI
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