Q3 2025 Emirates Nbd Bank PJSC Earnings Call Transcript
Key Points
- Emirates NBD PJSC (DFM:EMIRATESNBD) reported a strong profit before tax of 8 billion dirhams in Q3, contributing to a total of 23.4 billion dirhams for the first nine months, marking a 6% year-on-year growth.
- The bank achieved a 12% increase in income for the first nine months, driven by record loan growth and a 20% rise in non-funded income.
- Lending surged by 19% year-to-date, adding nearly 100 billion dirhams to the loan book, with deposits increasing by 94 billion dirhams.
- Emirates NBD PJSC (DFM:EMIRATESNBD) maintained a strong market position, with a 35% market share in UAE credit card spend and leading the UAE IPO league tables.
- The bank's digital ecosystem expanded significantly, with the EBDX platform serving 2.4 million active users, up 49% year-on-year, and the digital world platform surpassing 5 billion dirhams in trading volumes within its first year.
- Net interest margins tightened by 21 basis points year-on-year due to 125 basis points of Fed policy rate cuts.
- Stage 2 loans saw an increase, primarily due to credit pressures in Turkey, affecting the bank's overall credit quality.
- The cost-to-income ratio increased to 30.5% for the first nine months, with expectations to land around 31% for the full year.
- The bank faces challenges from hyperinflation in Turkey, impacting its financial results with a 2.4 billion charge.
- There is uncertainty regarding the stickiness of non-related party sovereign lending, which could impact future loan growth.
Hello everyone. The Emirates MBD results call and webcast for the third quarter of 2025 will begin shortly.(Operator Instructions). Ladies and gentlemen, welcome to the Emirates NBD results call and webcast for the third quarter of 2025. Today's call is being recorded.
Please note that this call is open to analysts and investors only. Any media personnel should disconnect now. I will now pass the call over to our host, Mr. Shane Nelson, Group CEO of Emirates MBD.
Thank you, Nadia, and welcome to our results call for the 1st 9 months of 2025.
We've maintained the solid operational performance for the first half, delivering another strong quarter, driven by robust business growth across our core markers. Our results demonstrate the strength of our diversified business model and focus on sustainable growth.
We delivered an 8 billion dirham profit before tax in Q3, which brings the group's total profit before tax for the 1st 9 months to 23.4 billion dirhams, growing
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