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Investor Presentation December 2019

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Investor Presentation December 2019 Investor Presentation December 2019 t Vision, Mission and Values Build long-term relationships by: “To be the region’s most . Being the best place to work progressive bank enabling . Delivering superior client experience innovative possibilities . Actively contributing to the community Vision through responsible banking Mission for our colleagues, clients . Leading with innovation and communities” . Pursuing opportunities that grow shareholders’ value S P I R I T Socially Passionate Recognize Innovative Integrity Transparent Responsible about clients our people 2 UAE economy Mashreq heritage Structure and Leadership Mashreq Strategy Investor Presentation Financial track record Trading history, rating and dividends Corporate governance Accolades 3 UAE ECONOMY – MACROECONOMIC OUTLOOK UAE - Second Largest Economy in the GCC with Promising Growth Prospects UAE - The second largest economy in the GCC Real GDP Growth Potential – 2019-24F (%) Sovereign Rating by Moody's . Second largest economy in the GCC with nominal GDP of USD 414 billion for 2020E A1 Ba1 B2 Aa2 Aa3 Aa2* . Well diversified economy with trade contributing ~26% of 2.3 the total GDP 2.4 2.3 2.5 2.0 1.7 . Despite volatile oil prices, UAE economy remains strong with current account surplus at 7.1% of GDP for 2020E . Holds 8.0% of the proven OPEC crude oil reserves, primarily concentrated in Abu Dhabi KSA Oman Bahrain Kuwait Qatar UAE . Young population with ~61.1% aged between 25-54 years and a literacy rate of ~95% Nominal GDP per Capita – 2020E (USD thousand) GDP Breakdown by Sector – 1H 2019 (%) Nominal GDP 2020E (USD billion) 2% Electricity & Gas 79 783 39 139 414 195 16% Trade 26% 70.7 5% Financial Corporations Manufacturing 28.9 37.4 17.7 22.5 25.5 Construction 13% Public Admin 10% Real Estate Oman KSA Bahrain Kuwait UAE Qatar 7% Transportation 5% 10% Accomodation & Food Services 7% Others* SOURCE: IMF WEO Oct 2019,CIA & OPEC, Moody's. * Represents rating of Abu Dhabi *Others include Agriculture, Utilities, Education, Hotel and Accommodation and Other segments 4 UAE ECONOMY – MACROECONOMIC OUTLOOK Best Ranked Economy on Ease of Doing Business and Global Competitive Index Among the GCC Nations Current Account Balance to GDP – 2020E (%) Govt. Net Lending/(Borrowings) to GDP – 2020E (%) 7.1 6.8 4.1 6.9 1.5 3.8 -4.4 -2.8 -6.6 -8.1 -8.4 -8.1 Oman Bahrain KSA Qatar UAE Kuwait Oman Bahrain KSA UAE Qatar Kuwait Global Competitiveness Index – 2019 Ranking1 Ease of Doing Business – 2019 Ranking2 53 45 46 83 77 36 68 62 25 29 43 16 UAE Qatar KSA Oman Bahrain Kuwait UAE Bahrain Oman Qatar KSA Kuwait 1 Rank out of 141 economies; 2 Rank out of 190 countries SOURCE: IMF WEO Oct 2019, World Economics Forum-Global Competitiveness Index 2019, Trading Economics 5 UAE ECONOMY – MACROECONOMIC OUTLOOK Solid Institutional and Policy Framework as Reflected by Relatively Higher Scores Among the GCC Nations Scores Highest Among GCC on Govt. Among the Best Ranked in GCC on Rule of Law Index1 Effectiveness Index1 1.4 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.2 0.2 0.1 -0.1 UAE Qatar KSA Oman Bahrain Kuwait UAE Qatar Oman Bahrain Kuwait KSA Highest Ranking in GCC on Control of Corruption Enforcement of Contracts - Ranked Best in GCC Index1 1.2 115 0.7 69 74 51 59 0.4 0.2 9 -0.1 -0.3 UAE Qatar KSA Oman Bahrain Kuwait UAE KSA Bahrain Oman Kuwait Qatar 1 Score ranges from -2.5 (weak) to 2.5 (strong) SOURCE: World Bank – Worldwide Governance Indicators 2019 update, World Bank- Doing Business 6 UAE ECONOMY – MACROECONOMIC OUTLOOK Non-oil growth is supported by strong hospitality and logistics sectors Non-oil growth fluctuated during the year and the PMI went below Non-oil direct trade flows have witnessed steady growth over the 50 for the first time in Jan’20 last few years Emirates NBD UAE PMI index UAE non-oil direct trade flows (AED billion) Increasing rate of growth CAGR 65 Re-exports Exports Imports ’13-’18 60 59 1,065 1,072 1,059 1,079 1,075 1,025 1,020 (1.3%) 58 58 57 56 232 244 221 215 252 55 217 312 3.0%) 55 54 169 148 132 161 159 172 52 51 51 51 50 118 50 49 (1.5%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec- Jan- 685 696 676 695 664 636 589 45 19 20 Increasing rate of contraction 40 2013 2014 2015 2016 2017 2018 9M’19 50 – no change on previous month The hospitality sector, especially in Dubai, is one of the major … along with the logistic sector growth drivers … Dubai Abu Dhabi Hotel guests (million) Air passengers (million) UAE container volumes (TEU million) 18.0 18.6 20.2 21.2 20.4 21.0 15.8 15.9 16.7 88 89 86 16.6 14.9 84 14.2 78 13.2 70 66 11.0 UAE air freight (million tonnes) Dubai Abu Dhabi * 5.0 5.1 4.4 4.9 25 25 3.3 3.4 3.5 3.5 4.1 20 23 22 2.9 3.1 3.2 2.8 2.8 17 2.4 2.5 2.6 2.7 2.3 2.4 2.6 0.6 0.7 0.8 0.8 0.8 0.8 0.1 2013 2014 2015 2016 2017 2018 2019 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 SOURCE: Emirates NBD, Federal Customs Authority, Hotel and Airport authorities of UAE, World Bank, Khaleej Times, National * Estimate for full year 2019 7 UAE ECONOMY – MACROECONOMIC OUTLOOK Consumer borrowing has slowed due to flat employment levels Rents are starting to bottom out … … as can also be seen in the uptick in Dubai property prices towards the end of the year Dubai 4Q ‘19 Abu Dhabi 4Q ‘19 Dubai residential average sale prices Apartments Villa/Townhouses 3.5 (AED / Mn) 3.0 Rent Rent Rent Rent growth falling growth falling 2.5 slowing slowing 2.0 Rent Rent Rent Rent 1.5 growth bottoming growth bottoming acceler- out acceler- out 1.0 ating ating 0.5 0.0 Residential Office Retail Hotel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec-19 Consumer borrowing growth has slowed… … due to flat employment levels Domestic credit to Individuals (AED Bn) Emirates NBD Employment index (#) 65 Increasing rate of growth +3% 50 50 51 52 50 60 46 48 48 49 48 49 48 48 338 337 333 311 326 283 55 50 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec- 19 45 Increasing rate of contraction 40 2014 2015 2016 2017 2018 2019 50 – no change on previous month SOURCE: JLL, UAE Central Bank, Emirates NBD, Property Monitor 8 UAE ECONOMY – MACROECONOMIC OUTLOOK Well Regulated and Diversified Banking Sector Diversified and Highly Regulated Banking Sector GCC Banking Assets – 2019 (AED billion) . As of December 2019, UAE banking sector comprised 48 banks 207% 90% 214% 169% 529% 104% ‒ 21 National Banks with 656 branches (-87 branches vs 2018) ‒ 27 Foreign Banks with 79 branches ( -1 branch vs 2018) 2,576 . Diversified loan portfolio - Real Estate and Construction sector 1,508 accounted for only ~20% of loan book in FY 2019 857 742 . Well regulated banking system, in line with internationally 293 followed best practices . UAE Banking sector has a long-standing track record of Government support during crisis situations UAE KSA Qatar Kuwait Bahrain Oman Total Banking Assets to GDP Ratio Source: IMF WEO Oct 2019, Central Bank of respective country UAE – Gross Credit and Deposits (AED billion) UAE - Loans by Sector – FY 2019 (%) 1% Mining and Quarrying CAGR 2013- 2019: 5.0% 2% Manufacturing CAGR 2013- 2019: 5.6% 10% 6% Electricity, Gas and Water 1,870 Construction and Real Estate 1,756 1,759 20% 1,627 1,657 1,575 1,563 1,580 20% Trade 1,485 1,421 1,472 1,378 Transport, Storage and Comm. Financial Institutions 5% 10% Government 12% 5% Personal Loans for Business 9% 2014 2015 2016 2017 2018 2019 Personal Loans for Consumption Gross Credit Deposits Others Source: UAE Central Bank Source: UAE Central Bank Note: Others include loans to Service Sector & Non Profit Institutions/Resident Credit Largest banking system in the GCC with total assets of AED 3.1 trillion; sound regulatory framework with widespread support from the Government 9 UAE economy Mashreq heritage Structure and Leadership Mashreq Strategy Investor Presentation Financial track record Trading history, rating and dividends Corporate governance Accolades 10 MASHREQ HERITAGE Mashreq is one of UAE's leading financial institutions . Established in 1967 by the Al-Ghurair family Heritage . 53 years of experience in the UAE banking and financial services market . Oldest regional bank based out of UAE Publicly listed . Combines the entrepreneurial spirit of Dubai with enduring trade banking relationships across the region . Listed on the DFM on the creation of the local stock exchange Strong . Prominent Regional bank with a presence in most GCC countries and a leading international network regional / with 24 branches / rep-offices in MENA, Asia, Europe and United States international presence . Well positioned to finance regional trade flows . Universal bank offering a comprehensive suite of products and services to individuals and corporates across all lines of business Diversified business case . Most diversified revenue streams with fee and other income contributing ~ 38% of total income; and high degree of geographic diversification with 20% of revenue coming from outside of the UAE .
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