Emirates NBD Bank (EMIRATESNBD) investor relations material

Executive summary

• Achieved record Q1 2026 total income of AED 14.4 billion, up 21% year-over-year, with profit before tax of AED 8.2 billion, up 6% year-over-year and 28% sequentially, and net profit at AED 6.4 billion, up 3% year-over-year.

• Total assets surpassed AED 1.2 trillion, with gross loans up 7% year-to-date and deposits up 6% year-to-date, and customer deposits reaching AED 830 billion.

• Maintained uninterrupted operations and customer support amid heightened geopolitical conflict, leveraging robust IT infrastructure and tailored support packages.

• Strategic focus on international revenue growth, digital innovation, and ESG initiatives, including progress on the RBL Bank transaction and new product launches.

• Emirates Islamic delivered AED 1 billion profit before tax in Q1 2026, reinforcing its leadership in Islamic banking.

Financial highlights

• Net interest income grew 12% year-over-year to AED 9.5 billion, supported by balance sheet growth and resilient margins.

• Non-funded income surged 42% year-over-year to AED 4.9 billion, with broad-based growth across segments and products.

• Cost-to-income ratio improved to 29.2%, below guidance of 33%, reflecting strong cost discipline.

• NPL ratio improved to 2.3%, with overall coverage at 157% and Stage 3 coverage at 86%.

• Loans grew to AED 703 billion and deposits to AED 830 billion, with retail lending up 5% and corporate lending up 9%.

Outlook and guidance

• Loan growth guidance remains mid-teens, with strong Q1 momentum supporting the outlook.

• Net interest margin guidance for the year at 3.1%-3.3% for the group, with DenizBank expected to maintain margins around or above 7%.

• Cost and risk guidance for full year at 30-50 basis points, to be reassessed in Q2 as more data becomes available.

• Expectation of continued strong deposit growth and liquidity resilience.

• Acquisition of a controlling stake in RBL Bank in India expected to complete in Q2 2026, expanding presence in India.