We are pleased to report that National Bank of Umm Al Qaiwain (NBQ) has achieved total revenue of AED 621.037 million for the year ending 31st December 2016. The operating income for 2016 is AED 354.372 million (2015 – AED 367.044 million). This year we achieved a Net profit of AED 325.734 Million, which is 20% higher than the profit of AED 271.138 million recorded for 2015 (after excluding AED 271.623 Million from the total net profit of AED 542.761 million, being the out of court settlement with Global Investment House received in 2015).

Following a prudent policy of balancing growth and profitability, as at 31.12.2016, total assets stood at AED 13.552 billion (2015: AED 13.383 billion). Customer Loans   Advances reached AED 8.809 billion and Customer Deposits increased to AED 9.013 billion, registering a marginal growth as compared to 31st December 2015.

The Bank continued to maintain strong Liquidity of 28.60%.

The Bank continues to have a healthy Capital Adequacy Ratio as well as Tier 1 ratio at 34.6% and 33.3% respectively in 2016.

Shareholders’ funds reached AED 3.986 billion as at 31/12/2016.