- Emirates NBD’s 2Q Net Income: Recorded at 7.1 billion dirhams, a 14% increase year-over-year. This exceeds the estimate of 4.83 billion dirhams.
- Operating Income: Reported at 10.7 billion dirhams, a slight decrease of 0.9% year-over-year, but still above the estimate of 10.64 billion dirhams.
- Net Interest Income: Reached 7.9 billion dirhams, growing by 9.7% year-over-year.
- Net Fee & Commission Income: Stood at 1.74 billion dirhams, marking a significant growth of 56% year-over-year.
- Earnings Per Share (EPS): Increased to 1.10 dirhams from 0.97 dirhams year-over-year.
- Cost to Income Ratio: Reported at 28.5%.
- Net Interest Margin: Recorded at 3.65%.
- Total Assets: Valued at 931 billion dirhams, up 15% year-over-year.
- Total Deposits: Recorded at 624 billion dirhams, a 12% increase year-over-year.
- 2Q Impairment Credit: Stood at 1.3 billion dirhams, driven by higher Denizbank Net Interest Margin (NIM).
- Favorable Loan Pricing: Observed at the Turkey unit.
- Analyst Consensus: 16 buy ratings, 0 hold ratings, and 0 sell ratings.
A look at Emirates NBD Bank PJSC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Emirates NBD Bank PJSC, a prominent player in the banking and financial services sector, showcases a solid long-term outlook as indicated by its Smartkarma Smart Scores. With high marks for Dividend and Growth factors, investors can look forward to potential returns and steady expansion opportunities. The company’s commitment to value also shines through with a strong score in this aspect, emphasizing its attractiveness for those seeking good investment value.
While the scores for Resilience and Momentum are slightly lower, Emirates NBD Bank PJSC‘s overall outlook remains positive, backed by its diverse business segments that include corporate, retail, and private banking. Based in Dubai, United Arab Emirates, the company is well-positioned to leverage its offerings such as treasury services and Islamic banking products to drive sustainable growth in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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