1 Jun 2017
Report For The Second Quarter Ending
Net Interest Income (NII) also reported a growth of 10% as compared to the similar period last year. Operating Income maintained at the same level compared to similar period in last year.
Fee and commission income recorded an increase of 9% as compared to similar period last year. Cost to Income ratio stood at 31% during six months, reflecting the bank’s operational efficiencies and disciplined cost management.
NPL ratio improved to 4.5% as at the end of June 2017 compared to 6.9% as at December 2016 and 4.7% compared to Q1 2017.
Other Major Highlights As At 30th June 2017
Total assets stood at AED 13.738 Billion.
Customer deposits marked a 3% increase as compared to December 2016. Deposits to advances ratio is maintained prudently at 106%.
Capital Adequacy Ratio of 32.87% as at 30th June 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 31.65%.
Share Capital is AED 1.848 Billion and total Shareholders’ equity is AED 4 Billion.
Bank has maintained high liquidity with stable resources to advances ratio of 141% as at 30th June 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 118%, compared to minimum stipulated ratio of 100%. This will enable the bank to prudently expand its lending portfolio.