Emirates NBD Bank (EMIRATESNBD) investor relations material

Executive summary

• 9M 2026 record income of AED 42.2bn, up 15% YoY; profit before tax reached AED 24.3bn, up 4%, and profit was AED 19.3bn, up 2%.

• Total assets rose 18% YTD to AED 1.379tn; gross loans reached AED 832.8bn and customer deposits AED 934.6bn.

• RBL Bank was consolidated from 18 June following acquisition of a 60% stake; its first full quarter contributed to Q3 results.

Financial highlights

• 9M total income was AED 42.2bn; net interest income reached AED 29.4bn, up 14%, and non-funded income AED 12.8bn, up 18%.

• Operating profit before impairment rose 14% to AED 29.0bn; operating expenses increased 19% to AED 13.3bn.

• Impairment allowances were AED 2.1bn versus a AED 286mn reversal; the AED 2.6bn hyperinflation adjustment also weighed on results.

• Q3 income was AED 14.3bn, profit before tax AED 8.0bn and profit AED 6.4bn.

Outlook and guidance

• FY loan growth guidance was raised to the low-20% range; loans excluding RBL grew 18% YTD.

• FY consolidated NIM guidance remains 3.1%-3.3%; 9M NIM was 3.24%.

• FY cost-to-income is expected near 31% excluding RBL and around 33% or slightly above including RBL.

• NPL guidance tightened to ~2.0% from ~2.5%; cost-of-risk guidance remains 30-50bps, with Q4 potentially marginally above range.