Q1 2023 Emirates NBD Bank PJSC Earnings Call Transcript
Ladies and gentlemen, welcome to the Emirates NBD Results Call and Webcast for the First Quarter of 2023 for analysts and investors. Today's call is being recorded. Please note that this call is open to analysts and investors only. Any media personnel should disconnect immediately. I will now pass the call over to our host, Mr. Shayne Nelson, Group CEO of Emirates NBD.
Thank you, [Billy] , and welcome to our results call. We will have a hard stop at 5 to 3:00 because we have one of our competitors down the road that I know most of you want to attend their presentation as well. I will first touch on the operating environment within our footprint before running through the main highlights of what has been a record quarter for Emirates NBD. We delivered record results in a quarter containing a lot of turbulence in the banking sector. SVB collapsed and the Swiss authorities announced that UBS would buy Credit Suisse. There was also a knock-on effect on Tier 1 securities, concerns about unrealized losses on
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