Emirates NBD Q1 2023 Financial Highlights
Stable Shareholder Base and Diversified Business Model
Split of Ownership - Anchored by the Government of Dubai
Ownership structure as of 31 March 2023
Others
39%
Capital Assets
5%
Investment
Corporation
of Dubai
56%
Dividend grew 150% since 2013
Dividend growth (CAGR) of 10% p.a.
0.60
0.50
0.40 0.40
0.40 0.40
0.40
0.40
0.35
0.25
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
•
Key Highlights
.
A flagship bank for the Government of Dubai and the UAE
•
Strong and supportive shareholder base from the Government of Dubai via
Investment Corporation of Dubai
International presence in Asia, Europe and MENAT across 13 countries.
DenizBank acquisition further enhanced geographic profile
Well diversified and balanced asset composition between corporate, consumer
and Islamic banking
Foreign ownership limit raised to 40% from 20% in July 2020 with foreign
ownership at 13.1% on 8 June 2023
Equity Analysts Coverage
Recommendation
Target Price Price
Price as of 8 June 2023
Q1-2023 EPS
All figures in AED
Buy
Hold
Sell
13
1
17.53
14.00
0.93
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