United Arab Bank

The United Arab Bank (UAB) Board of Directors held a meeting on 3rd May 2024, where they discussed and approved various routine and business matters. The meeting was held at 01:00 PM. The information was disclosed in a letter sent to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange.

United Arab Bank (UAB) has reported its financial results for Q1 2024, showing a net profit before tax of AED 75 million, up 37% from Q1 2023. The net profit after tax was AED 68 million, a 25% increase from the same period in the previous year. Earnings per share rose to AED 0.033 per share in Q1 2024 from AED 0.027 in Q1 2023. The bank also reported a 33% increase in total income to AED 163 million, driven by a 44% increase in net interest income. The bank's expense management has improved, with the cost-income ratio reducing to 48% from 53% in the prior year. The bank's capital position and liquidity profile remain strong, and its credit ratings have been affirmed by Fitch and Moody’s.

United Arab Bank (UAB) has reported its financial results for Q1 2024, showing a net profit of AED 68 million, a 25% increase year-on-year (YoY) and a 47% sequential increase. The bank's net profit before tax was AED 75 million, up 37% YoY. The total income rose by 33% YoY to AED 163 million, due to higher net interest income, which increased by 44% YoY. UAB's total assets reached AED 17.9 billion, with a 2% increase in net loans and advances and a 4% increase in customer deposits during the quarter. The bank's asset quality metrics also improved, with a reduction in the NPL ratio to 4.8% and an improved coverage of 127%. The bank's capital position remains strong, with a CET1 of 13.1% and a total CAR of 18.4%. UAB's credit ratings were affirmed by Fitch and Moody's, with a 'Stable' and 'Positive' outlook, respectively.

The document contains a review report and condensed interim financial statements for United Arab Bank P.J.S.C. for the three-month period ending on 31 March 2024. This information is intended for individuals interested in finance and investing.

The Board of Directors of United Arab Bank P.J.S.C. has announced a board meeting on 25th April 2024, at 1:00 PM. The purpose of the meeting is to approve the Interim Financial Statements for the period ended 31st March 2024 and to disclose and publish them accordingly. The outcome of the meeting will be shared immediately after its conclusion.

The Board of Directors of the United Arab Bank P.J.S.C. will hold a meeting on 25th April 2024 to approve the Interim Financial Statements for the period ended 31st March 2024. The results will be disclosed and published as per regulations. The outcome of the meeting will be announced immediately after its conclusion.

The United Arab Bank (UAB) has announced a Board Meeting to be held on 25th April 2024. The purpose of the meeting is to approve the Interim Financial Statements for the period ending 31st March 2024, and to disclose and publish them accordingly. The outcome of the meeting will be shared immediately after its conclusion.