Recent Research

• 

  FIRST LOOK NOTES

  25 Jul 2025

  Emirates NBD (ENBD)

  HOLD

  Last Closing Price

  26.10

  Target Price

  27.00

  Upside (%)

  +3.45%

  UAE Equity Research- Emirates NBD Bank (ENBD) - 2Q25 First Look Note

  Group net advances grew 4.7% QOQ to AED 545.1Bn in 2Q25, with major incremental lending originating from international operations. Asset quality improved with NPLs declining from 3.1% in 1Q25 to 2.8% in 2Q25, driven by recoveries and a continued buoyant property market.

  Download
• 

  EARNINGS CALL INSIGHT

  25 Jul 2025

  Emirates NBD (ENBD)

  HOLD

  Last Closing Price

  26.10

  Target Price

  27.00

  Upside (%)

  +3.45%

  UAE Equity Research - Emirates NBD (ENBD) 2Q25 - Earnings Call Insight

  Net funded income rose 5.5% YOY to AED 8.4 Bn in 2Q25 due to growth in interest-earning assets, partially offset by lower asset yield and an increase in interest-bearing liabilities. Reported Net interest margin fell 23 bps YOY and 22 bps QOQ to 3.36% in 2Q25 due to the impact of interest rate changes in UAE and Turkey.

  Download
• 

  FIRST LOOK NOTES

  24 Apr 2025

  Emirates NBD (ENBD)

  BUY

  Last Closing Price

  20.40

  Target Price

  25.00

  Upside (%)

  +22.55%

  UAE Equity Research - Emirates NBD Bank (ENBD) 1Q25 - First Look Note

  The Bank's balance sheet crossed the AED 1 trillion mark in 1Q25, up from AED 997 Bn in 4Q24, reflects robust asset growth and cements ENBD’s position as a leading regional banking institution.

  Download
• 

  EARNINGS CALL INSIGHT

  23 Apr 2025

  Emirates NBD (ENBD)

  BUY

  Last Closing Price

  19.90

  Target Price

  25.00

  Upside (%)

  +25.63%

  UAE Equity Research - Emirates NBD (ENBD) 1Q25 - Earnings Call Insight

  Net funded income rose 14.1% YOY to AED 8.5 Bn in 1Q25 due to growth in interest-earning assets coupled with decline in cost of funds partially offset by lower asset yield and increase in interest bearing liabilities.

  Download
• 

  FIRST LOOK NOTES

  22 Apr 2025

  Emirates NBD (ENBD)

  BUY

  Last Closing Price

  19.80

  Target Price

  25.00

  Upside (%)

  +26.26%

  UAE Equity Research - Emirates NBD Bank (ENBD) 1Q25 - Earnings Flash

  Emirates NBD’s Profit before tax grew substantially by 56% QoQ to AED 7.8 Bn in 1Q25, driven by strong regional expansion, increased digital adoption, an outperforming funding base and loan growth. While recorded a decline in net profit after tax by 7% YoY to AED 6.2 Bn due to the higher tax in 1Q25.

  Download
• 

  FIRST LOOK NOTES

  03 Feb 2025

  Emirates NBD (ENBD)

  BUY

  Last Closing Price

  20.60

  Target Price

  25.00

  Upside (%)

  +21.36%

  UAE Equity Research - Emirates NBD (ENBD) 4Q24 - First Look Note

  Net interest margin fell from 3.8% in 3Q24 to 3.7% in 4Q24 due to flow through of rate cuts leading to lower asset yield partially offset by an expansion in margins at Denizbank.

  Download

Load more reports