Emirates NBD Bank (EMIRATESNBD) investor relations material

Executive summary

• Record H1 2026 pre-tax profit of AED 16.2 billion, up 5% year-over-year, driven by robust UAE economic growth, strong business momentum, and diversified product offerings.

• Total income reached AED 27.9 billion, up 16% year-over-year, with double-digit lending and deposit growth.

• Consolidation and acquisition of RBL Bank in India significantly expanded assets, with group assets surpassing AED 1.3 trillion.

• Maintained robust customer activity, balance sheet growth, and recognition for digital, ESG, and banking excellence.

• Net profit after tax for H1 2026 was AED 12.85 billion, a 2.6% increase year-over-year.

Financial highlights

• Net interest income rose 13% year-over-year to AED 19 billion, supported by asset growth and resilient margins.

• Non-funded income grew 25% year-over-year, with broad-based growth across segments.

• Cost-to-income ratio at 29.9%, below guidance of 33%, reflecting cost discipline.

• Operating profit before impairment increased 17% to AED 19.5 billion.

• Gross loans rose 17% year-to-date to AED 771 billion, with RBL contributing AED 44 billion; deposits grew 13% to AED 892 billion.

Outlook and guidance

• Full-year net interest margin guidance maintained at 3.1%-3.3% for the group, with ex-Deniz margins expected at 2.5%-2.6%.

• Loan growth guidance remains mid-teens, with strong pipeline and robust demand in core markets.

• Cost-to-income ratio expected around 31% for the year, potentially 32% with RBL.

• Cost of risk expected to remain within 30-50 bps range, with some relief anticipated in H2.

• Management reverted to standard scenario-based ECL methodology in Q2 2026 after heightened downside weighting in Q1 due to geopolitical uncertainty.