UAE Equity Research - Emirates NBD (ENBD) 3Q26 - Earnings Call Insight
ENBD’s net profit attributable to equity shareholders declined 1.5% YOY to AED 6.3 Bn in 3Q26, lower than our estimate of AED 6.7 Bn. The decline was primarily driven by higher funded expenses, operating expenses, impairment charges and taxes, along with a higher share of profit attributable to NCI following the RBL Bank consolidation.