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06 May, 2018

National Bank of Umm Al-Qaiwain has marked an increase of 6% in the net profit to AED 131.03 Million for the first quarter of the year 2018 as compared to AED 123.39 Million during the same period last year. Improved operating performance was driven by the increased interest income, coupled with the effective recovery strategies.

Interest Income and Income from Islamic financing products reported a growth of 10% as compared to the similar period last year.

Cost to Income ratio stood at 18% during three months, reflecting the bank’s operational efficiencies and disciplined cost management.

NPL ratio improved to 6.4% as at the end of March 2018.

Other Major Highlights As At 31st March 2018

  • Total assets stood at AED 14.42 Billion.
  • Deposits to advances ratio is maintained prudently at 108%.
  • Capital Adequacy Ratio of 33.29% as at 31st March 2018 continues to be well over the minimum threshold stipulated by the UAE Central Bank in accordance with Basel III guidelines. This provides opportunities to leverage . Tier I ratio is maintained strongly at 31.96%.
  • Share Capital is AED 1.85 Billion and total Shareholders’ equity is AED 4.11 Billion.
  • Bank has maintained high liquidity with stable resources to advances ratio of 139% as at 31st March 2018, while the Central Bank of UAE has set 100% as the minimum limit.
  • Net Stable funding ratio as per Basel III guidelines stood at 121.55%, compared to minimum stipulated ratio of 100%. This will enable the bank to prudently expand its lending portfolio.
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