WAM
29 Apr 2025, 15:33 GMT+10
SHARJAH, 29th April, 2025 (WAM) -- The United Arab Bank (UAB) reported its financial results for the three months ending 31st March 2025. UAB posted a net profit of AED102 million for Q1 2025, compared to AED68 million in Q1 2024 representing an increase of 49 percent.
The growth in net profit stems from the improved operating performance and strong recoveries leading to lower net impairment charges.
Total assets grew by 31 percent yoy in Q1 2025 to AED23.4 billion, driven by the strong growth in loans, advances and Islamic financing (+31 percent yoy), Investments increased by (+29 percent yoy) while customer deposits increased by 40 percent yoy.
The Bank continues to maintain a solid capital adequacy ratio of 17.1 percent and a CET1 ratio of 12.6 percent, both of which remain well above the regulatory requirements, thus supporting the credit growth ahead.
Gross NPL ratio notably improved further to 3.4 percent from 4.8 percent a year ago, supplemented by an adequate coverage of 118 percent.
The Bank continues to focus on growing its core businesses and revenues across its Wholesale Banking, Retail Banking and Treasury & Capital Markets segments, whilst moving towards a more agile operating model offering digital solutions and capabilities, thereby positioning itself as the partner of choice among major clientele.
The Bank's robust liquidity profile is also demonstrated by advances to a stable resources ratio of 73.7 percent and an eligible liquid asset ratio of 18.0 percent, both comfortably above regulatory thresholds.
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