Report For The First Quarter Ending

1 Mar 2017

Report For The First Quarter Ending

National Bank of Umm Al-Qaiwain has marked an increase of 20% in the net profit to AED 123.393 Million for the first quarter of the year 2017 as compared to AED 102.404 Million during the same period last year.

Net Interest Income (NII) also reported a growth of 20% as compared to the similar period last year and 15% growth as compared to the last quarter of 2016. Operating Income grew by 24% compared to Q1 2016 and 20% compared to Q4 2016. This is mainly driven by the increase in interest income due to bank’s effective recovery strategies.

Fee and commission income recorded an increase of 18% as compared to similar period last year. Cost to Income ratio stood at 22% during three months, reflecting the bank’s operational efficiencies and disciplined cost management.

NPL ratio improved to 4.7% as at the end of March 2017 compared to 6.9% as at December 2016.

Other Major Highlights As At 31st March 2017
Total assets stood at AED 13.765 Billion.

Customer deposits reached AED 9.423 Billion marking a 5% increase as compared to Dec 2016. Deposits to advances ratio is maintained prudently at 106%.

Capital Adequacy Ratio of 32.98% as at 31st March 2017 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 as and when required. Tier I ratio is maintained strongly at 31.70%.

Share Capital is AED 1.848 Billion and total Shareholders’ equity is AED 3.925 Billion.

Bank has maintained high liquidity with stable resources to advances ratio of 137% as at 31st March 2017, while the Central Bank of UAE has set 100% as the minimum limit.

Net Stable funding ratio as per Basel III guidelines stood at 117%, compared to minimum stipulated ratio of 100%. This will enable the bank to prudently expand its lending portfolio.
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