Emirates NBD growth slow down to 60.23% during Q1-2023
First bank
Emirates NBD's growth slow down during the First quarter of 2023, recording a compound growth rate of 60.23%, compared to 100% during Q4-2022.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 215.94% during Q1-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 12.79% during Q1-2023, and an increase in both asset and deposit portfolios by 8.07% and 4.12%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-2022 to achieve a growth rate of 423.36%.
The bank’s Total loan portfolio increased by 3.12% during Q4-2022, asset as well as deposit portfolios increased by 8.60% and 11.29%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
Indictors of Emirates NBD during Q1-2023
| # | Indicators | Value At Q1-2023 | Growth rate % | Value At Q4-2022 | Growth rate % |
|---|---|---|---|---|---|
| 1 | Net profits | 964.654 Million pounds | 215.94 % | 328.154 Million pounds | 423.36 % |
| 2 | Total Assets | 109.08 Billion pounds | 8.07 % | 100.938 Billion pounds | 8.6 % |
| 3 | Total customer loans | 52.34 Billion pounds | 12.79 % | 46.404 Billion pounds | 3.12 % |
| 4 | Total customer deposits | 88.731 Billion pounds | 4.12 % | 85.22 Billion pounds | 11.29 % |
| 5 | Composite Growth | 60.23 % | 100 % |
