Emirates NBD Bank PJSC First Quarter 2024 Earnings: Beats Expectations

Emirates NBD Bank PJSC (DFM:EMIRATESNBD) First Quarter 2024 Results

Key Financial Results

• Revenue: د.إ11.5b (up 15% from 1Q 2023).
• Net income: د.إ6.57b (up 12% from 1Q 2023).
• Profit margin: 57% (down from 59% in 1Q 2023). The decrease in margin was driven by higher expenses.
• EPS: د.إ1.04 (up from د.إ0.93 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Emirates NBD Bank PJSC Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 48%.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in United Arab Emirates.

Performance of the Emirian Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Emirates NBD Bank PJSC that you need to take into consideration.

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