Thank you, Alex. Good morning and good afternoon, everyone, and thank you for joining us today.

This is Janany Vamadeva, and on behalf of Arqaam Capital, I'm pleased to welcome you to DIB's Q3 2026 earnings conference call. I have with me here today from DIB management Dr.

Adnan Chilwan, the Group Chief Executive Officer, John Macedo, the Chief Financial Officer, and Kashif Moosa, the Chief Sustainability and Investor Relations Officer. Without any further delay, I'll now turn the call over to Kashif.

Kashif, over to you.

Thank you, Janany, and good afternoon, everyone, and welcome to DIB's third quarter results webcast for 2026. This webcast shall be led by Dr.

Adnan Chilwan, Group CEO of DIB, John Macedo, CFO of DIB, and myself. Before we start the presentation, I request you to please send your questions to the email address [email protected], and we shall aim to address as many as possible in the Q&A session post the presentation.

With that, let's kick off today's presentation. On the operating environment, slide four, let me start by briefly touching on the global economic environment.

The global economy continues to demonstrate resilience, with GDP growth forecast at around 3.1% in 2026 and expected to edge up to 3.4% in 2027, while growth in emerging economies is projected to remain ahead of the global average. Inflation is expected to rise modestly in 2026 as geopolitical developments, high energy costs, and supply disruptions create near-term price pressures.

However, inflation is projected to ease as supply conditions improve and the broader environment stabilizes. US effective federal fund rates remain below its previous peak, but following the 25 basis point increase last month, the interest rate environment is expected to remain elevated in the near term.

Oil prices have moved above US$100 per barrel amid supply constraints and the continued geopolitical uncertainty. For the GCC, this provides support to fiscal balances and system liquidity, and at the same time it may also contribute to the broader commodity price pressures.

Moving on to slide five and coming home to UAE, GDP growth is expected to ease at 3.1% in 2026, primarily reflecting regional tensions, before rebounding to 7.7% in 2027, supported by higher hydrocarbon production and continued growth in the non-oil economy. Business activity remains resilient, with UAE PMI returning to its pre-conflict levels of 55.3 in September, signaling continuing expansion in the private sector.

Oil production reached a multiyear high of 3.83 million barrels per day in September 2026, supporting fiscal and current account surpluses and anticipated acceleration in GDP growth in 2027. UAE inflation is forecast to reach 2.4% in 2026 and just under 2% in 2027, remaining well above the global inflation and reinforcing the country's broader macroeconomic stability.

Moving to slide six and turning to the key drivers that are supporting UAE's performance, they remain broadly based across major sectors. Economic diversification continues to gain momentum, supported by proactive policies, infrastructure investment, and resilient domestic activity.

This reinforces long-term economic outlook. The banking sector remains resilient as well, supported by strong capital buffers and improved asset quality, and with about 5.5 to 5.6 trillion in assets and an NPF ratio of about 2.8% across the sector, it remains well positioned to support economic growth.

Higher oil prices and production levels are supporting fiscal revenues as well, enabling continued government investment in infrastructure and the wider economy. Production capacity is targeted to reach 5 million barrels per day in 2027.

On the real estate, the sector continues to expand, supported by sustained investor interest and population growth. Transaction values reached around 574 billion in Dubai and 117 billion in Abu Dhabi during the first nine months of 2026.

The UAE financial markets recovered to pre-conflict levels, supported by higher trading volumes and continued investor participation. With this preamble, I will now move the discussion to DIB's financial and business performance in detail and hand over to Dr.

Adnan Chilwan, Group CEO. Dr.

Adnan, please.

Thank you, Kashif. Good afternoon, everyone.

I will run the presentation in a page-turned format and then spend a large part of the hour on questions. As always, we'll use the last five minutes to summarize my key messages.

Let me now briefly walk you through the summary of our financial performance for the first nine months, and I'm turning to page eight. From a balance sheet perspective, we continue to grow our market presence.

Total assets have increased by around 3% year to date and have reached 427 billion. This is driven by continued expansion of our financing portfolio.

The net financing assets, as you can see, have grown by 10% year to date to 287 billion, supported by growth across key economic sectors. Our sukuk investments stood at around 85 billion as the bank strategically recalibrates its sukuk portfolio to prioritize financing opportunities offering attractive risk-adjusted returns.

The bank delivered a strong operating performance during the period. Gross revenues grew by 7% year on year to stand at 18.6 billion, while operating profit grew by 4% year on year to stand at 7.1 billion, underpinned by continued cost management with operating expense remaining flat year on year.

We continue to see an improvement in asset quality, supported by prudent credit underwriting and proactive portfolio management. The nonperforming financing ratio stood at 2.4%, improving by 30 basis points year to date, while the cumulative cost of risk stood at 25 basis points.

The bank's capital position continued to strengthen, with the CET1 ratio increasing by 110 basis points year to date to stand at 13.4%, and the capital adequacy ratio increasing by 100 basis points year to date to stand at 16.5%. From a liquidity perspective, customer deposits stood at 323 billion, supported by a stable CASA balance base of around 34%.

Overall, the bank delivered a well-balanced performance during the first nine months of the year, demonstrating steady balance sheet growth and stable profitability. This obviously was complimented by continued improvement in asset quality, strong capital buffers, and a stable liquidity position.

If you turn to slide nine, where we look at the income statement, the bank has delivered a well-balanced performance during the first nine months of the year. Gross revenue has increased by 7%, like I've mentioned, to reach 18.6 billion, and a 8% year-on-year growth in gross funded income as well as 2% growth in non-funded income.

Operating expenses remained flat compared with the corresponding period in 2025, driven by continued cost optimization. Now this has allowed the operating profit to grow by 4% year on year to reach 7.1 billion.

We have maintained a prudent approach to provisioning during this period, reflecting active portfolio management and a continued focus on managing credit risk. Net profit before tax has remained stable at 6.6 billion, while net profit after tax stood at 5.6 billion.

The bank continued to generate strong returns, with pretax return on tangible equity at 20% and pretax return on assets at 2.1% during this period. This demonstrates bank's resilient earnings and its continued capacity to generate capital.

Slide 10, you can see that we have maintained healthy revenue momentum during the first nine months of the year, supported by steady balance sheet and revenue growth. Net funded income grew by 3% year on year to stand at 6.8 billion.

This was supported by continued growth in financing assets across key businesses like consumer, corporate, as well as commercial banking. Net profit margin remained stable at 2.4% amid higher funding costs across the banking sector.

Non-funded income continues to provide revenue diversification through fee and commission income, foreign exchange activity, and recurring contributions from property and associates. The bank continued to benefit from a well-balanced mix of funded and non-funded income, providing greater revenue stability, supporting resilient performance, and sustained earning growth amid challenging operating environment.

When we look at slide 11, we can see a healthy cost to income ratio and that has remained a key strength during this period. Operating expenses declined sequentially to reach 816 million in the third quarter, mainly driven by decline in personnel expenses.

The bank's cost to income ratio remained well controlled at 28.1% for the first nine months of the year, in line with our year-end guidance, and this reflects continued benefits from our investments in the digital infrastructure. As a result, operating profit increased by 4% year on year to reach 7.1 billion, demonstrating the bank's ability to deliver strong operating results.

On slide 12, we turn now to balance sheet, where the bank has delivered healthy growth during the period, primarily driven by continued expansion in our financing book across key economic sectors. Net financing assets increased by 10% year to date to reach 287 billion, supported by around 68.5 billion in gross new financing across all our core businesses.

This reflects healthy customer demand and our ability to capture quality growth opportunities. During this period, we strategically repositioned our sukuk portfolio, reducing the investments to stand at 85 billion as we continue to pursue attractive risk-adjusted financing growth opportunities.

Total assets have grown by 3% year to date, and they stand at 427 billion, while customer deposits stood at 323 billion, reflecting continued growth in financing and a strong funding base. Slide 13, this slide highlights the well-balanced composition of our balance sheet and financing portfolio.

You can see that net financing assets and sukuk investments have grown by 6% year to date, and they stand in total to 372 billion dirhams, supported by continued growth in financing activity. Our financing portfolio remains very well diversified across our consumer and wholesale business, with exposures across multiple economic sectors.

Overall, we continue to deliver steady balance sheet growth, supported by a balanced asset mix and prudent risk management practices. When we turn to slide 14, it looks at our asset quality.

We've continued to see improvements during the first nine months of the year, with key indicators moving in the right direction. NPF ratio improved by 30 basis points year to date, and it stands at 2.4%, reflecting sound credit underwriting practices and continued focus on asset quality.

The cumulative cost of risk, as you can see, stood at 25 basis points, reflecting the underlying strength of the bank's financing portfolio amid the external headwinds that we've witnessed. Provisioning levels remain robust, with cash coverage of 123% and total coverage ratio of 155%, providing a healthy buffer.

Slide 15, looking at portfolio quality, the portfolio continued to strengthen during the first nine months of the year. Stage one exposures have remained stable at 94%, while stage two and stage three combined exposures declined to 6.1% compared to 7.4% a year earlier, reflecting continued improvement in the overall risk profile of our financing book.

ECL coverage has remained healthy, reflecting the bank's prudent provisioning approach. Slide 16, moving on to liquidity, we've maintained a strong position during the period, supported by a stable customer deposit base and diversified sources of funding.

Customer deposits stood at 323 billion, while CASA balances remained stable at 34%, reflecting our strong customer relationships and the stability of our deposit base. LCR and NSFR ratios stood at 126% and 105% respectively, comfortably above the regulatory requirements, underpinned by solid funding profile and sound liquidity management.

The funding base remains stable and diversified, supported by a balanced mix of corporate, commercial, and customer deposits, which accounted for 65%, 8%, and 27% of the overall deposits respectively. During the quarter, the bank closed its debut $750 million syndicated Islamic financing facility, diversifying institutional funding sources and attracting approximately $1.2 billion in commitments.

Slide 17 turns to capital. The bank's position strengthened further during the period, providing sufficient headroom to support future growth opportunities.

During this period, the CET1 ratio increased by 110 basis points year to date, and it stood at 13.4%, and the capital adequacy ratio grew by 100 basis points year to date, and it stood at 16.5%. Our capital ratios remain comfortably above the regulatory requirements, providing sufficient capacity to support bank's future growth trajectory while maintaining a strong and well-capitalized balance sheet.

The next few slides look at our businesses. We start with slide 19, where we look at our consumer banking business.

This business delivered strong performance, driven by growth in financing and deposit portfolios, stable yields, and continued momentum in customer acquisition. Net financing assets grew by 18% year to date to stand at 91 billion.

This was supported by 31 billion in gross new financing, driven by healthy demand across personal, home, auto, and card products. Business revenues remained stable at 973 million dirhams in the third quarter, supported by strong yields of 6.1% and diversified income generation across funded and non-funded activities.

On the funding side, consumer deposits stood at 88 billion, with CASA balances of 44% of the total deposits, reinforcing the franchise's high-quality funding profile. We maintained healthy customer acquisition momentum, adding approximately 160,000 new digital users during the period and expanding our total customer base to 1.9 million.

Slide 20 looks at our corporate business, both local and cross-border. We continued to deliver strong balance sheet growth, supported by diversified client base across sectors, stable revenue generation, and healthy yields.

Net financing assets grew by 6% year to date to reach 187 billion, supported by more than 28 billion of gross new financing during the period. This growth was well diversified across key economic sectors.

In the third quarter, revenue grew by 17% year on year to reach 867 million, primarily driven by continued growth in funded income and healthy financing yields of over 5%. Within the corporate business on the funding side, deposits reached 206 billion, with CASA ratio remaining stable at 25%, contributing to a well-diversified funding profile.

Slide 21 looks at our commercial banking business. The franchise maintained strong growth momentum, supported by healthy financing growth, a strong CASA mix, and high yields.

Franchise revenue increased to 293 million in the third quarter, driven by higher funded income and expanding customer base across key commercial sectors. Net financing assets within the commercial bank grew by 13% year to date to stand at 9 billion, supported by more than 2 billion of new underwriting during this period.

Growth remained well distributed across the SME and mid-corporate businesses, with yields of around 6%. On the funding side, deposits increased by 18% year to date to stand at 26 billion, with CASA balances remaining exceptionally strong at 61% of the total commercial banking deposits.

Looking ahead, commercial banking is well positioned to deliver strong growth while continuing to generate attractive margins and contribute a resilient, low-cost funding base to the group. Slide 22 looks at our treasury business.

This franchise has remained focused on supporting the bank's broader balance sheet and liquidity objectives while strategically recalibrating the sukuk portfolio. On the revenue side, the business generated 475 million dirhams in the third quarter, with stable yields of around 4.6%.

During the period, the bank repositioned its sukuk investment portfolio to pursue attractive risk-adjusted growth opportunities in customer financing. This demonstrates our disciplined approach to balance sheet management and continued focus on enhancing returns.

We remained focused on maintaining a high-quality sukuk portfolio, which predominantly comprises of sovereign, quasi-sovereign, and financial institution issuances. This high-quality composition supported capital preservation while providing a stable contribution to earnings.

Slide 23, we look at our digital business, where we continued to see strong customer adoption and engagement across our digital channels, reflecting the progress made in delivering a simpler, convenient, and accessible banking experience. Our digital users have grown 14% year on year, and they stand at around 1.9 million.

Around 97% of our customers actively use our digital channels, with more than 95% of transactions processed digitally. Our digital capabilities continue to support customer acquisition, with 82% of new customers onboarded through the digital channels during this period.

Overall, our digital investments continue to simplify processes and improve operational efficiency, enabling the bank to achieve its growth objectives. Slide 24, turning to sustainability, we continue to make steady progress against our strategy and remain focused on embedding sustainability into growth, client engagement, and long-term value creation.

Under financing a sustainable future, year to date we have originated nearly 7 billion in sustainability-linked financing across sectors, including aviation, real estate, transportation, clear energy, and the circular economy. Alongside financing, we continue to expand our green concierge proposition, providing clients with strategic advisory, specialist expertise, and ecosystem partnerships that help identify and advance sustainability operations.

Now we have also enhanced our sustainability-linked finance framework, expanding the range of eligible KPIs and increasing flexibility across sectors. Together with our sustainable finance framework, this strengthens our ability to meet growing client demand.

With that, we will pause here and open the floor for a Q&A session, and we'll take as many questions as we can, followed by the last few minutes of the hour where I would summarize certain key messages for the benefit of the audience.

Yeah. Sorry for the delay, but we're back.

First few questions from Janany from Arqaam. The first is on some color on the staff costs during the quarter, and the second is on margins that have remained stable despite the headline on deposit pricing, and the third is on the loan growth, having already met the target, are we expecting this to increase, or are we expecting some repayments?

Thank you, Janany, for your question. I think the first one on staff costs and the reduction in staff costs, as you would appreciate, we've embarked on a digital transformation journey a few years ago where we have invested heavily on the technology side and enhancing the infrastructure and the digital infrastructure of the bank, investments in AI, as well as payment gateways.

This long-term investments allows us to apportion a certain percentage of those costs and capitalize them over a period, which is what we have done. The reduction in staff costs is nothing but equivalent costs that can be associated with that transformation program has been capitalized within the bank's financials.

In terms of margins, our margins have remained stable despite the recent deposit pricing and the premiums that we are seeing being paid on mobilizing liquidity. We remain confident that we can weather that storm.

We are in line with our guidance. As you remember, our overall net interest margin guidance for the year is 2.3%, we will settle down at that by the end of the year.

Of course, the deposits are being still mobilized within the market and this is just a broad brush on where the financial service industry is. Cost of liquidity has gone up.

DIB has also seen that uptick, but we've managed that quite well, and hence, with a mix of our CASA as well as our fixed deposits and making sure that we pick up deposits at not very high rates, we've managed to make sure that our net interest margins are stable. Of course, it's also the contribution from the asset side of our balance sheet where, both these lines we've made sure that they are well controlled and maintained, and we were able to deliver stable net interest margins.

You can definitely expect that pressure continues, especially when we go into Q4, because that's an industry phenomenon. That's why we have anticipated that our full-year guidance should be at around 2.3%.

Year to date, loan growth has already met the full-year guidance. We give guidance on the overall growth, and that overall growth includes both loans as well as sukuk.

That overall guidance is at 10%, and year to date we are at 6%. We are still maintaining that guidance.

We have some way to go towards that. As I've mentioned in my preamble, the idea is to make sure that we've got balanced growth.

We would recompose our balance sheet and relook at each of our businesses and make sure that we are not only looking at growth, but also risk-adjusted returns on that growth, and hence you see us reducing our sukuk book a bit and redeploying that liquidity in financing. Overall, the total growth guidance, if I may, stands at 10%, and year to date we are at 6%.

Few questions from Rahul from Citi. Rahul, the first question on the staff costs was just answered in detail, we take the next two.

Fee and commission income has been weak in third quarter. What is driving this?

Also the decline in deposits during the quarter, is it hard in this market to grow deposits in this environment?

Thank you, Rahul. We've already answered the first question, but there was an extended question to that where you were talking about major head count reduction.

Like I've mentioned, this is because of capitalization of certain costs that we can associate with transformational programs and not due to any head count reduction. Fees and commissions have been weak in Q3.

In Q3, our loan growth has also been muted. When you look at that, it's just a very conscious strategy that we have.

Like I've mentioned, we are pivoting towards certain key sectors. We are making sure that we are focusing on certain businesses that might not be heavy in fee income generation.

For example, when you look at the consumer banking franchise, a lot of activity has happened during the first nine months there, but that contribution does not directly correlate with the kind of business that you do because fee income on the consumer side is less. On the corporate side, we've been quite balanced in underwriting.

We have an overall plan, and we are making progress towards that overall growth number. Of course, in Q3 we've seen a little bit muted activity on the loan side in the wholesale business, and that has impacted the income generation, the fees and commissions.

Q4 we see that activity to come back. Of course, it's also a combination of lower FX, lower trade volumes, some lower arrangement fees.

Again, that's just a reflection of the volumes that we have underwritten in Q3. Deposits have declined in the quarter, while the loan-to-deposit ratio has reached close to 90% mark.

Is it hard to grow deposits in the environment? Of course the environment is challenging at this point in time.

It's not hard to grow deposits, but you have to pay a premium if you've got to mobilize the deposits, which every financial institution is witnessing. For us, based on the liquidity backdrop and the premiums that are being warranted in this area, we have consciously not mobilized deposits excessively.

We've maintained our LDR ratio at close to 90%, but more importantly, our NSFR ratio at 105% and our LCR ratio at close to about 120%. We've consciously maintained that LDR position to make sure that it does not impact our P&L negatively.

A few questions from Rahul Rajan from BofA. Rahul, the first two obviously have been answered around opex as well as deposits, we just go to number three and four.

The first one is on the asset quality coverage, and what's driving the low cost of risk in third quarter? The fourth one is about the change at the board with the new chairman coming in, and how is it impacting anything?

Thank you, Rahul. Like Kashif mentioned, repeated questions in one and two, I'll take three.

Asset quality coverage, I've already mentioned that our asset quality is very robust. We can start by pointing you towards our nonperforming financing, which is at record low levels of 2.4%, but then we need to look at the coverage of that nonperforming financing.

In terms of cash, we are at 123%, and in terms of total coverage, we are at 155%, which provides a healthy buffer. Then when you deep dive into exposures by stages, you will see that stage one exposure has remained constant at 94%, whereas stage two and three have come down from 7.4% to 6.1%.

Now when you look at ECL coverages, we are adequately covered across all these stages. Asset quality continues to be robust, and because of that we've also seen a low cost of risk, and that low cost of risk is also supported by some timely recoveries that we've got.

We always spoke about the strength of our underwriting, and this just demonstrates that whatever we've underwritten in the past, we've managed to keep it within the performing book, as well as some of the underwriting that became nonperforming has now seen recoveries, and that has enhanced our P&L, i.e., with a low cost of risk. That's quite strong, and you can see that trend has continued over the last 18 months or so.

The cost of risk has been pretty strong as far as DIB is concerned, and our nonperforming financing ratio keeps coming down, not on account of the denominator increasing, but also on account of absolute recoveries and the absolute number continues to come down. You ask a pertinent question in the change in chairmanship in the board and if there's any change in strategy.

I can comfortably say that the strategy remains the same. We are in flight to that strategy, and we are going to see that strategy being delivered.

There's no change in the overall direction of the bank. We will continue to focus on innovation, enhancing our products and services, remaining customer-centric, focusing on each of our key businesses, whether it is the consumer banking franchise, whether it's the wholesale banking franchise.

We have already spoken about the strategy at the beginning of the year, which meant growth across all our key businesses in terms of consumer, corporate, as well as commercial, and we also alluded to the fact that we will relook at our fixed income book and look at rightsizing it to release some capital both on pillar one and pillar two basis so that we can redeploy it in risk-adjusted returns on some of our businesses that give us better returns. Overall, I think with the change in this leadership that we have, we are looking at it very positively, and it will only take us forward.

All the great work that has happened in the last decade or so is only going to be strengthened going forward, and we are coming to the close of the year, and definitely, the market will expect us to come up with a new strategy because, as you would appreciate, we are coming towards the fag end of the five-year plan, and we are now expected to come up with the next three-year strategy, which we will do at the beginning of next year. No change in direction.

Everything is as is, and the bank will continue to deliver on the guidance that it has given across key metrics that we will discuss towards the end of this call.

Questions from Chiro, SICO Bank. Chiro, couple of questions on opex and fee income have already been answered, we'll take the ones that haven't been.

The first one is on some clarity on the income from associates and what's driving the line item, and the second one is on the real estate prices and are they having any impact on your earnings?

Thank you, Chiro. Your question on income from associates, again, our associates have not just for this quarter, but in the last few quarters you can see they continue to do well.

These are contributions from our investments in some of the associates like Bank of Khartoum, Panin Bank. Also we've got our investments in some of the other line items that we've spoken about in the past.

Nothing specifically skews this. We continue to enjoy very good contributions from these associates, and I see that the direction of travel is good and going forward also we will continue to benefit from this line.

Real estate price correction, if that happens by 15%, does it impact our earnings? Not at all.

Because when we look at some of the earnings for this quarter, you can already see that the real estate gains that we made in the past from sales of some of the inventory that we had, has started to be muted during this year. That does not then impact our line item going forward for the full year.

Also, we've got a portfolio where we've got rental yields. We continue to see no drop in that.

Overall, I think it is fair to say that any correction does not impact our earnings, and definitely any correction in rental yields or in valuation for that matter does not impact our overall collateral side also because we've got a very decent LTV cover. On both income as well as valuation, it does not impact us negatively.

A few questions from Jitendra from Al Ramz. Jitendra, your question two and three on opex and deposits and funding has already been answered, we'll go to the first one that you have, which is on liquidity and NSFR, which is around 105%, above the regulatory minimum, and do you have any internal buffers, or do you expect this to put any further pressure on funding costs?

Jitendra, thank you for your question. If you actually look at our NSFR ratio over the last so many quarters, you will see that we've continued to maintain at these levels.

Of course, the regulatory minimum is 100%, and even during the geopolitical crisis, that regulatory minimum has been brought down to around 90%. Despite that, we continue to operate at 105% and above, and I think these are good levels for us.

We don't see any constraints on our financing growth. Of course, you will also appreciate that deposit mobilization and long-term deposit mobilization can happen easily, but we maintain a balance between our P&L as well as where this ratio should be.

We can very easily go to 107%, 108%, or even 110%, but that would put pressure on our P&L. We are maintaining a balance between our financing growth to be in line with guidance, between deposit mobilization to make sure that we don't pick up undue deposits that will put pressure on our P&L, and with our NSFR ratio, which is healthy at 105%, and it consistently has been quarter

on quarter. We're having a number of questions come up and there is a big line so we're going to focus on the critical ones.

Questions from John Peace, UBS. Why has the loan growth been slower than UAE peers, and should we expect some higher growth in 2027?

The second one is on the NIMs as to can we get a detailed two decimal point figure?

Thank you, John. I think I'll take the easier one first, the two decimal net interest margin.

In Q2, it used to be 2.41% and in Q3 is 2.37%. I hope that helps.

As far as loan growth is concerned and you say that we are lagging behind UAE peers, and whether we can expect higher growth in 2027, I think let's focus on 2027 when we announce our full-year results and we give guidance to the market. I'll take that question probably sometime in January.

When you look at loan growth lagging behind UAE peers, I think we need to put context around DIB's ambitions. We've given loan guidance of around 10% at the beginning of the year, we are making progress, and that guidance was given to keep in mind three prime objectives.

One was where do we stand in terms of capital, our capital consumption and our capital retention. That was extremely important for us, irrespective of what peers were doing.

Second was we were cognizant of the geopolitical sensitivities around what was happening, we wanted to make sure that we are balanced in that loan. Then how we were going to deliver that growth of around 10% was by focusing on certain key businesses and reclassifying and recomposing our balance sheet to make sure that we come out of certain positions to generate a capital and then to use that capital and deploy it in other businesses.

We've exactly done that. We have not deviated from that overall strategy and the guidance that we've given, irrespective of what the peers are doing, because we want to maintain our balance sheet growth in a balanced manner by focusing on profitability, as well as capital consumption.

I think it'll be unfair for anyone to look at DIB's Q3 results and say that you're lagging behind peers, because this is a strategy that we embarked upon and we guided the market, and we have continued to deliver on that strategy. Of course, it's extremely important to see things in context.

It's not only about balance sheet growth and growing your loan book, but it's also where do we grow that loan, in which areas of the bank we focus on, and how do we consume or generate capital with profitability as well as consumption of that loan growth.

I was going through the list of questions that are there now, quite a few people have obviously asked, it's primarily related to the parameters that have already been answered earlier by Dr. Adnan.

I'll give it back to Dr. Adnan for his summary.

Thank you, Kashif. Like Kashif has mentioned, we've seen the same questions come up again and again, and I think I've taken time to address them, and if we've probably missed out on something whilst sifting through those questions, please do reach out to our investor relations team.

I wanted to use the last five minutes of this call to summarize certain key messages, which can sometimes get lost in translation or between a Q&A session or between page turns. Our performance during the first nine months reflects one of our defining strengths, which is the consistency of our strategic execution.

I think there was a question around is the strategy changing with the change in leadership or are you pivoting towards something that you have not spoken about, and the simple answer to that is no. The strength of our results is the strength of our strategic execution.

We have been consistent in delivering key messages across the nine months results, and I think in Q3, it is no different. We have continued to balance growth, profitability, as well as financial resilience while strengthening our customer propositions and investing in capabilities that would shape our future.

Now we look at three components of that statement, right? I've spoken about balanced growth, I've spoken about profitability, and I've spoken about financial resilience.

When it comes to balanced growth, this has allowed us to sustain business momentum reflected in our balance sheet, where we've grown our assets by 3% and our financing and sukuk growth has been by 6%, in line with the overall 10% guidance that we've given. When we look at financial profitability in that statement, it talks about positive momentum with revenues of 18., revenues growing by 18.6% or 18.6 billion, which is about 7% year-on-year growth, and our operating profit has grown by 4% to reach 7.1 billion, resulting in our first nine months profitability to be at 6.6 billion.

We've looked at balanced growth, we've looked at financial profitability, and both seen in positive momentum. Then when it comes to financial resilience, we've ensured strong foundation in terms of asset quality, which remains at nonperforming financing at 2.5%, that remains strong, our capital levels, both CET1 at 13.4% and CAR ratio at 16.5%, both of these have been up year to date by about 110 basis points or so.

Overall, I think balanced growth, robust profitability, and financial resilience has resulted in us making progress towards the overall guidance that we had given at the beginning of the year. That can be seen on the summary slide on page 26, where you can see that our guidance of 10% growth, we stand at 6%, our net profit margin guidance of 2.3%, we are at 2.4%, cost to income ratio guidance of 28%, we are at 28.1%, return on tangible equity at 21%, we are at 20%, return on assets, 2.2%, we are at 2.1%, nonperforming financing of 2.5%, we have bettered that at 2.4%, and total coverage of 160%, we are close to around 155%.

All of these metrics pointing to year-end guidance and making progress towards that. Overall, you should expect DIB to continue making progress towards these guidances and continue the momentum that we've seen in the first nine months that hinges around balanced growth, robust profitability, as well as financial resilience.

With that, we come to the end of the hour. If there are any follow-up questions or something that we've not answered, please reach out to the investor relations team.

I will touch base with you again when we are going to talk about the full-year results for 2026, and I can tell you that there are no surprises. In fact, we are making very good progress towards our aspirations of ending the year on a very positive note.

Thank you very much.

Thank you, everybody, and looking forward to the next earnings call. Bye.