National Bank of Umm Al-Qaiwain has marked an increase of 3% in the net profit to AED 135.18 Million for the first quarter of the year 2019 as compared to AED 131.03 Million during the same period last year. Improved operating performance was driven by the increased interest income, coupled with the effective recovery strategies.

Fee and commission income recorded an increase of 31% as compared to similar period last year. Cost to Income ratio stood at 19% during three months, reflecting the bank’s operational efficiencies and disciplined cost management.

Net provision charge for impairment for the three months decreased by 54% as compared to the same period last year. 

Other Major Highlights As At 31st  March 2019

• Total assets stood at AED 14.413 Billion.
• Deposits to advances ratio is maintained prudently at 107%.
• Capital Adequacy Ratio of 35.23% as at 31st March 2019 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. Tier I ratio is maintained strongly at 34.09%.
• Share Capital is AED 1.848 Billion and total Shareholders’ equity is AED 4.434 Billion.
• Bank has maintained high liquidity with stable resources to advances ratio of 143% as at 31st March 2019, while the Central Bank of UAE has set 100% as the minimum limit.
• Net Stable funding ratio as per Basel III guidelines stood at 115.91%, compared to minimum stipulated ratio of 100%. This will enable the bank to prudently expand its lending portfolio.